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Homeownership

Home improvement projects that can increase your home's value

Home improvement projects lift your home's value. But before you do anything, put together a financial plan and see where you can get more bang for your buck.

Have you been thinking about doing some home remodeling in the near future? Are you putting together a financial plan to see where you can derive the most value from your investment? Well, before you do anything, you might want to hold off until you've considered these top three home improvement projects identified by the 2014-15 Remodeling Cost vs. Value Report. They may be able to help you recoup some of your costs by adding value to your home.

Replace your doors

As simple as it may sound, curb appeal (either in person or online), remains at the top by offering you the greatest payback on your investment. One of the easiest ways to present a good first impression and improve the overall appearance of your home is by replacing your front door and garage door with more upscale upgrades. In addition to the aesthetic value, new doors provide energy efficient value to your home which in turn translates to more money in your pocket.

Upgrade your home's siding

According to the report, replacing/upgrading siding can add substantial value to your home come resale time. A popular choice that has been trending over the past year is manufactured stone veneer siding, which is expected to recoup 92.2 percent of its cost nationally.

Remodeling the heart of the home

No matter how minor, kitchen remodeling projects presented a national payback of 79.3 percent on average. Some of the top updates include replacing cabinets, updating fixtures and appliances, replacing countertops with granite, quartz, or marble, and updating flooring. However, if you're aiming for a more contemporary look (and the extra value that goes along with it), you might want to consider some high-end extras such as a wine cooler, dry/wet bar, or even an outdoor kitchen.

Of course, there's no exact figure as to how much value these and other improvements will add to your home - there are simply too many variables.

 

WEB.1427.04.15

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