5 Ways to Spend Your Remodel Budget for Marketability
Updated: Jul 7, 2018
Little things mean a lot when you are trying to improve the curb appeal and marketability of your home. Most of us do not have endless resources, so which improvements should you make a priority? Remodeling Magazine has released its “2018 Cost v. Value Report” which compares the costs of remodeling projects to how much real estate professionals estimate the investment improves the marketability of your home. Some of the national trends appear to be changing. Here is what you should know:
1. Garage door replacement (98.3% ROI) – The front of the house is the first thing potential buyers see, and if they pull up and see a rotten or faded garage door, it doesn’t give the right first impression. Installing a new garage door not only improves curb appeal, it can also save energy and help keep your family secure.
2. Manufactured Stone Veneer (91.7% ROI) – Continuing with curb appeal improvements, homebuyers prefer the look of natural stone to traditional siding options, and veneers are quite popular. Manufactured stone products are cast from molds using the patterns of stones and rocks as they are found in nature to create a durable, easy-to-install product that is much more affordable and less labor intensive than actual stonework. Replacing part of your siding with stone veneer can catch the eye of a potential buyer without breaking your wallet.
3. Entry door replacement (91.3% ROI) – Your entry door is where guests enter your home, and buyers seem to think it says a great deal about what is inside. Whether you select a flushed, paneled, or arched design, home buyers seek steel entry doors that offer security, energy savings, protection from weather, and a visual impact.
4. Wooden deck additions (82.8%) – You may be a little surprised to learn that many homeowners are fond of their outdoor space being centered around a wooden deck. Relatively inexpensive to build, wooden decks can add warmth and color that readily flow into the outdoor surroundings.
5. Minor kitchen remodels (81.1%) – Minor kitchen remodeling typically includes replacing cabinet parts or purchasing new cabinets, replacing outdated appliances, countertops, and sinks, pairing or replacing the floors, and a fresh coat of paint. Potential homebuyers view outdated cabinetry and appliances as an expensive hassle, so updating these items in a kitchen remodel should take priority.
The contributing author, Jeni C. Powell, is a freelance writer who specializes in blog posts, website content, summary and analysis, proofreading, and editing. Her industry related strengths include Marketing, Education, Design, Home Improvement, Legal, and Parenting. Her services are available at www.jenifreelance.com.