5 Home Remodels That Increase Resale Price
A home improvement is not just a project, it’s an investment. Remodeling Magazine recently found the renos that are yielding the best returns these days.
First is a front door replacement. Homeowners who replaced their wooden entries with steel doors saw a 102% return on their investment when they sold their house. Steel doors can be hollow or solid, soundproof and fireproof, and any color.
Next is installing manufactured stone veneer. It yielded a 92% return at resale. Stone veneers resemble natural stone or brick, but cost much less. They work well as siding, or around fireplaces and bathtubs.
Garage door replacements returned 88%, up 4% from the previous year. The average cost for a new garage door is $1,100. They can be wood, metal, glass or plastic, and they make the house look better from the curb. It’s best when a new automatic door replaces a manual one.
Replacing old siding led to an 81% return. Costs to install siding can vary, but they can make or break a home sale. Dilapidated or peeling siding will decrease offers from potential buyers.
Adding a new deck is a major landscaping project that can entice buyers. Wood decks yielded an 81% return, and their average cost is $7,800, depending on materials and square footage. They blend in well with natural settings, and they can hold grills, tables, saunas, plants, and other items.
The bottom line is remodels are about adding value as well as comfort. The right choices help a home become more profitable.
Read more: 5 Home Remodels That Increase Resale Price – Video | Investopedia http://www.investopedia.com/video/play/5-home-remodels-increase-resale-price/#ixzz3unIAPeIS
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