Whether you're planning to sell soon, or you plan on staying in your current home for the time being, the following home improvements outlined below deliver the best return on your investment (ROI).
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1. DECKS -- Decks are the perfect place for most homeowners to relax and entertain in the great outdoors. This popular feature with homebuyers is available in a wide variety of materials, from natural wood, composite, vinyl, plastic or aluminum, with some requiring more upkeep than others. If You Spend: $10,347 Resale Value: $8,835 ROI: 85.4%
2. SIDING -- Not only does the exterior of your home keep you warm in winter and cool in summer, it presents the first impression to your neighbors and potential buyers. Therefore, the right siding can really update the look of an old house – while keeping you nice and cozy. If You Spend: $9,910 Resale Value: $8,245 ROI: 83.2%
3. KITCHEN -- The kitchen is the heart of the home, and the place family and guests always tend to gather. From counters to cabinetry, and all of the latest appliances, this is an investment that’s sure to pay off.
If You Spend: $21,185 (minor) or $55,503 (major) Resale Value: $17,576 (minor) or $43,363 (major) ROI: 83% (minor) or 78.1% (major)
4. BATHROOMS -- Today’s bathrooms are spacious sanctuaries where you can soak away the worries of the world. Your money will never go down the drain here, especially if you are updating from one bathroom to two or three. If You Spend: $15,789 Resale Value: $12,366 ROI: 78.3%
5. BASEMENT -- The basement is a great place to expand your living area. Whether you’re creating a home theater or children’s play room, finishing this space will definitely pay off. If You Spend: $59,435 Resale Value: $44,661 ROI: 75.1%
Data Courtesy of www.housingzone.com
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