The Most Lucrative Home Renovations for Resale

By Alyssa Mammano

They say kitchens and bathrooms sell homes, but some of the most lucrative home renovations may surprise you. According to remodeling’s Cost vs. Value 2018 report, these are the top five home renovations that will get you the biggest bang for your buck when selling your house. All of these home renovations have been trending up since last year in terms of recouped cost.

Replace Your Garage Doors with a Steel Garage Door Package

Garage doors can actually make or break your home’s curb appeal. New, clean feature doors can draw attention to your home and make it feel more high-end, while dated or banged up garage doors can decrease the perceived value of your residence. By removing your existing 16 x 7-foot garage door with its tracks and replacing it with a new four-section feature door, you can add value to your home and recoup 98.3% of the cost of the project.

Replace Your Siding with a Stone Veneer Detail

Vinyl siding is a classic design, but you can kick it up a notch by adding a three-foot-high stone veneer to the bottom third of your street-facing façade. The stone feature gives your home a sophisticated look with an elegant color scheme. Match your siding, trim and door paint colors to those found in the stone pattern for a unified design. The cost of this project will be about $8,000, but you’ll recoup about 97.1% of that in resale.

Replace Your Front Door with a Steel Front Door Package

Replacing your front entryway door can have the same effect as upgrading your garage door. Enhance your curb appeal and home security with a new steel front door package in a factory finished color. A clear, dual-pane glass panel will give your home a distinguished look inside and out and will allow more natural light to enter your home. About 91.3% of your $1,400 expenditure will be recouped in resale.

Add a Wood Deck to Your Walk-Out

If you have the room and the right configuration for it, adding a 16 x 20-foot wood deck is a luxurious addition to your backyard. Installing a pressure-treated wood deck with built-in seating and planters is perfect for outdoor entertaining, cooking and enjoying family time in the nice weather. It extends your living space into the outdoors and allows you to utilize your available space more favorably. A deck addition of this scope will cost you a little more than $10,000, but you will recoup 82.8% of the cost.

Give Your Kitchen a Cosmetic Update

A major kitchen remodel and reconfiguration may blow your budget and won’t earn you the income you’re looking for in resale, but a minor kitchen remodel and design update is a sound investment. Keeping the configuration of your kitchen the same, remove the front panels of your cabinets and replace them with modern shaker-style wood panels and drawers. Screw in new updated hardware in a sleek design and finish and replace your dated appliances with new energy-efficient models. New fixtures and lighting will complete the redesign. The total cost of a minor kitchen remodel is about $20,000 and you’ll earn about 81.1% of that back in resale.

Selling your home is a process, but if you want the biggest return on your real estate investment then completing a few renovations beforehand can help get the most for your money. These are the top five most lucrative projects that you can do for your home in 2018. Which one is on your to-do list?

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