The real estate market is still rough nationwide, and many homeowners are choosing to renovate their current place and wait until the market improves instead of selling it at a loss. That leaves many of them asking where to start.
The most important thing to keep in mind is value: what home renovation project will get the most money back?
In this market it's unlikely any homeowner will see a 100 percent return on investment, but these are some home improvement projects with big payoffs.
- Window replacement. Besides saving money on utilities, replacing your old windows will give you a 69 percent return on investment.
- Garage door replacement. The average cost of a garage door replacement has fallen 15 percent nationally, and as a result homeowners will now recoup an average of 71 percent of their costs.
To see the full list of home improvement projects with big payoffs, visit my CBS MoneyWatch blog.
Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blogand CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.
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