One of the greatest things about owning a home is being able to decorate, update the decor, and, of course, remodel. It can be as simple as adding a fresh coat of paint to a bigger project like remodeling or adding on a new room.
But when it comes to gaining the most value from remodeling projects, there are certain ones you’ll want to focus on. However, Remodeling Magazine says remodeling project trends vary from year to year as far as which ones add the most return for your investment. Some can even diminish the overall value of your home.
The magazine says the one project that brings the greatest return on investment but at the same time is not too expensive is replacing your front door with a steel one. You can gain up to a 235.6% return. It’s the best way to improve curb appeal and a quick and easy project at the same time. Steel doors are more cost effective compared to wood or fiberglass and are a great deterrent against intruders according to the magazine. A good door can also help you save money in energy costs.
Next on the list is replacing your garage door. This project, depending on where you live, can increase your home value by almost 160%.
Other exterior projects that also add value to your home include stone veneer accents (a return of 143.3%) and new vinyl siding (return of 104.5%).
Due to the latest recession, more families are becoming multigenerational as far as household members. As a result, a lot of attics are being remodeled into an extra bedroom. You’re looking at a 125.7% return on the investment if you do this project. This type of project costs on average $65,000, but according to the Cost vs Value report, the resale value is $82,000 on average.
If you or anyone you know is interested Scottsdale Real Estate, please check out my website, www.Realestateforsaleinaz.com, and I’ll be happy to help.
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