When considering making home improvements to increase your home’s value, most people assume the bathroom and kitchen are the best place to start. Not so fast! We took to the internet to find out the most cost-effective updates you could make on your home that provide the highest return on investment (ROI) while adding value to your home. What we found out might just surprise you!
Keeping It Curbside
It is what’s on the inside that matters, right? Not when it comes to your home! The garage door is taking the top spot when it comes to home improvements that pay off. The garage door is the gate keeper to your home and usually the first thing that catches a passerby’s eye. (Even when it could use a bit of TLC!) If you’re looking to take your garage door from an eye sore to eye candy – update it! Replacing a garage door is an easy update that not only adds major curb appeal, but it’s also a great investment if you’re looking to add value to your home. According to The Mortgage Reports, in 2018 a garage door replacement recouped around 98.30% – nearly 100% of the investment!
BONUS: We all know that first impressions are important. The same goes for your entryway! Does your front door give your home a warm and friendly welcome that says to your guests, “Come on in!”? If not, then it’s time to update! Replacing your front door is another easy update that adds to the appeal of your home. Remodeling reports that upgrading your front door with a steel entry door will cost an estimated $1,471, with a $1,344 resale value, resulting in a 91.3% recoup rate!
Become One With Nature
Ah, the great outdoors! There’s nothing like enjoying the warm breeze on your deck after a long day. And that time spent on your deck is even more enjoyable when you know that its adding value to your home! That’s right, The Mortgage Reports says that in 2018, adding a wood deck to your home had a recoup rate of 82.80%. Remodeling suggests sticking with a 16-foot x 20-foot wood deck, though some deck sizes will vary depending on the size of your house and yard. Be sure to add a railing system for safety, function and stability.
The Heart of the Home
When we say “remodel” do you automatically think “kitchen”? The kitchen is the heart of the home and often one of the selling points that buyers look for when home shopping. The Mortgage Reports says that a minor kitchen remodel has a recoupment rate of 81.10%. So, what is considered “minor” when it comes to a kitchen remodel? Minor updates can range from replacing cabinet fronts, replacing outdated hardware, trading out major appliances for more energy-efficient models, and removing and replacing resilient flooring.
Sometimes some of the smallest investments can lead to the highest returns. Whether you’re making improvements to increase your home’s value so you can put it on the market, or you just want to jazz it up a bit for your own peace of mind, these updates are the perfect place to start. Keep in mind that home improvements and their added value vary by location and make sure the improvement you choose works in favor of where your home is located. If you have questions on what improvements would add the most value to your home, talk to Mega Pros. We work exclusively in Chicagoland and are knowledgeable on what improvements can add the most value to your home for our area.
And when it’s time to call in the experts for your home improvement project, call Mega Pros! Nearly any type of home improvement project you can dream of, we’ve done it. Give us a call at 847.658.8989 to speak with one of our home improvement experts!