1. Improve the Bathroom to Add Value to Your Home
On average, you can recoup around 90% of the money you spend on upgrading your home’s bathrooms. Projects that add value include repainting the walls, adding new lighting fixtures, installing a custom mirror or two, and replacing the old bathtub or shower stall.
2. Upgrade the Kitchen
Kitchen remodeling projects offer an approximately 80% ROI. Buyers love updated cabinets, new appliances, energy-efficient light fixtures, and a modern kitchen faucet. If you’re planning to sell your home soon, don’t go overboard. Choose projects that add value but understand there is a limit. Spending $100,000 on a kitchen renovation for a home with a market value of $200,000 doesn’t make financial sense.
3. Boost Security and Add Value to Your Home With a Steel Door
While replacing your home’s current front door with a new one made from steel doesn’t sound like a particularly good investment, this is a great project to boost property value. Buyers appreciate that a steel door is insulating, increasing energy efficiency. Steel is also low maintenance and helps improve home security.
4. Add Stone Veneer Siding
To quickly give your home a new appearance, install manufactured stone veneer siding to a portion of the facade. This siding is attractive and relatively cost-effective. Stone veneer is lightweight, has a timeless look, and boosts curb appeal. The expected ROI for stone veneer siding is around 95%.
5. Build a Backyard Deck
Add more living space and provide a place for your family to spend time outdoors with a backyard deck. You’ll find a wide variety of building materials to choose from, including hardwoods, aluminum, and composite decking. Depending on the material you select, it is even possible to profit from installing a deck on your property.