Tips For Getting the Most Bang For Your Home Improvement Buck
If you’re updating your home strictly to suit you own personal comfort, needs or taste, you likely aren’t overly concerned with how the projects may affect the resale value of your home. However, if you’ve got a mind to move in the future, it’s worth considering which home improvement projects can help you get the most bang for your buck upon resale. Read on for the projects that will help you yield the best return on your investment.
Adding or Updating Siding
As many homeowners know, new siding – whether vinyl or engineered – is a big investment. For a homeowner willing to spend an average $14,000, however, it can dramatically increase home value. Remodeling Magazine estimates new siding adds at least $10,000 to your future sale price.
Updating the Bathroom
A modern bathroom is a must-have for many buyers, so it’s one of the easiest ways to add value to your home without breaking the bank. According to research from Zillow, spending a conservative $3,000 to update the toilet, sinks, light fixtures and flooring will increase your home value by $1.71 for every dollar you spend.
Insulating the Attic
It’s not nearly as exciting as a brand new bathroom remodel, industry research by Remodeling Magazine shows that adding fiberglass insulation to your attic for about $1,200 will have a 116% return if you decide to sell your home.
Replacing the Garage Door
This is an area many homeowners overlook, but a new garage door can add important curb appeal to your property. Even if you’d rather not spend the thousand dollars or so to completely replace the door, a new coat of paint or wood stain can work wonders, earning you a near-100% return.
If you’re embarking on a home renovation, take the time to understand the long-term impact of your planned projects, especially as they relate to your home’s resale value.
Image via Flickr/handymanathome