Many homeowners are looking for ways to improve the value of their properties. In this article, you’ll learn about the top 10 home improvement or renovation projects that offer a solid return on investment, listed from least to most costly. So, whether you’re just wanting to “spruce the place up a bit” or are looking for a way to get the most out of your old home to help pay for your new one, there’s something here for nearly every budget and dream.
1. New front door – Replacing your old, tired front door with something more stylish is a rather inexpensive way to add some new value to your home, as well as to your curb appeal. Experts say that an upgrade to a steel door is a great investment, but warn against choosing a door strictly for its energy rating. Turns out homes lose more heat through gaps around the door than through the door itself.
2. New garage door – To echo the first item on this list, garage doors need some love too.
3. New siding – Give your entire home a facelift with a new cladding of vinyl siding. While this project is more expensive and complex than the first two, it is still relatively quick and budget-friendly while adding value and improving the look of your home.
4. New deck – A deck is a lovely and functional transition from inside to the outdoors. A new deck can be built over an existing but outdated patio or can replace an old, sagging wooden porch on the back of your home. The return on your investment is either years of enjoyable leisure, or about 75% of the costs, depending on whether you stay or go.
5. Minor kitchen updates – You don’t have to go all out. Consider replacing just the countertops, adding a backsplash, purchasing a sleek new appliance, or swapping the faucet for an elegant, water-saving model. Something as simple as new light fixtures or cabinetry hardware can add value, style, and atmosphere to an otherwise less-inspiring cooking cave. The budget and extent of the makeover is up to you.
6. Window replacement – Give your home an aesthetic and energy-efficiency makeover with new windows. While the budget for this project is larger, it’s well worth it and can pay for itself in climate efficiency over time.
7. Attic remodel – If you’re considering a real undertaking, turn that old, dusty attic into the master suite, library, or nursery of your dreams.
8. Basement remodel – Similar to the attic project, only in the basement, you’ll want to focus on family space. Adding family or “public” space in the basement can take you from cramped and cranky to peaceful and harmonious.
9. Major kitchen overhaul – And sometimes you do have to go all out. Kitchen remodels are pricey and require you do McGuyver kitchen space somewhere else in your home, but remodeling the heart of the home comes with many benefits, including a more beautiful and functional space and a solid ROI to go with it.
10. Second floor additions – You can nearly double the value of your home by doubling its size and functionality. Adding an entire floor, or even just a master suite, over your existing home can bring in a 65% or more increase in the sales price of your home. It also saves valuable landscaping and outdoor living space—a plus for smaller lots and cramped neighborhoods.
If 2014 is the year of the fresh home design for you, you’ll be off to a great start with any of the items on this list. Whether you gather your supplies for a DIY weekend or call your favorite local contractor, you’re in for a treat. Good luck!
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