#1 Upgraded Landscaping
This one might be a bit of a surprise.
But if your yard is one of your home’s imperfect parts, a little color and a touch of hardscaping can make a huge difference to your curb appeal, which is a great immediate equity-booster.
What does a basic landscaping upgrade include?
- Flowering shrubs
- A 15-foot-tall deciduous tree
- A flagstone walkway
- Two 6-by-2 stone planters
- Fresh mulch
The cost: $4,750
The return: 105% at $5,000
#2 New Roof
If you find yourself sprinting for the buckets when it starts to sprinkle, getting a new roof should be your No. 1 to-do. Measuring rainfall from the indoors isn’t cool.
The cost: $7,600
The return: 105% at $8,000
Considering it’s what’s between you and the elements, it’s a no-brainer.
Not sure if you need a new roof? Signs you might include:
- Shingles are missing, curling up, or covered in moss.
- Gritty bits from the asphalt shingles are coming out the downspout.
- The sun’s shining through your attic.
- You notice stains on ceilings and walls.
- Your energy bill is sky high.
#3 Hardwood Floors
You flip on the TV to see that your fave home reno-ing duo is it at again, flipping a ranch that’s stuck in the ‘80s.
They make it to the living room, pull back the dingy carpet to reveal hardwood floors in great condition. They’re psyched — and for good reason.
Hardwood floors are a timeless classic. Refinishing is a no-brainer. Neither will you regret adding new hardwood floors if you have none.
The cost to refinish: $2,500
The return: 100% at $2,500
The cost to buy new: $5,500
The return: 91% at $5,000
#4 Patio or Deck
If your home is your castle, your yard is your kingdom. After giving your yard a much-needed overhaul, you need a place to watch over you handiwork. How about that deck or patio you’ve been dreaming of?
The cost of a patio: $6,400
The return: 102% at $6525
The cost of a deck: $9,450
The return: 106% at $10,000
Insulation is tucked out of sight, so it’s often out of mind — that is, until you’re forced to wear your parka indoors because it’s sooo darn cold.
The cost: $2,100
The return: 95% at $2,000 plus the added savings on heating and cooling costs
#6 New Garage Door
No surprise that a garage door replacement project made it onto this #winning list — a new garage door provides a big boost for your home’s curb appeal at a relatively modest cost.
The cost: $2,300 (for a two-door)
The return: 87% at $2,000
There are options galore, too. A host of factory-finish colors, wood-look embossed steel, and glass window insets are just some of the possibilities that’ll give your doors bankable personality.
#7 Vinyl Siding
In any color! And never paint again.
Those are two of the three benefits of vinyl siding. The third, of course, is your home’s value.
But if long-time homeowners look at you funny when you mention vinyl siding, just tell them that today’s vinyl is way better than what they remember because of fade-resistant finishes and transferable lifetime warranties.
The cost: $12,000
The return: 83% at $10,000
Want fiber-cement siding instead? It also shows a strong payback of 79%. Although it’s the pricier option — you’ll spend $19,100 — it has one thing vinyl still lacks — the perception of quality.
And quality matters. In a survey from the National Association of Home Builders (NAHB), “quality” was the one of the most important traits that home buyers focused on when house hunting.
- Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most Return On Investment (ROI).
- While big projects like adding a bathroom or a complete kitchen remodel are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.
Source: Keeping Current Matters