Before embarking on any home improvement project, it is important to consider a project’s potential return. Luckily for homeowners, there are a number of remodeling projects that provide the potential for a high return on investment when you turn around to sell the home. Exterior remodeling projects are a cost-effective option as they are typically less expensive to complete and are more likely to make a good first impression on potential buyers. Beyond curb appeal, there are also a number of interior remodeling projects that provide a higher resale value than others. Consider the following projects to bolster the resale value of a home.
Entry Door Replacement – Replacing a worn, drafty front door with a new steel entry door increases curb appeal and increases the home’s energy efficiency. An attractive entry door can dramatically improve the looks of a home while saving money. Selecting a door with windows will allow for more light to enter the home, creating a bright and inviting entryway. In addition to these benefits, this project can be completed relatively quickly and easily while providing a very high cost-retention rate.
Wood Deck Addition – Homeowners who add a wooden deck to their homes typically see this project averaging a higher than average cost-retention rate. Decks are an attractive feature to buyers, expanding livable space and improving the look of a backyard. Using wood for the deck, as opposed to the composite materials also available today, keeps the cost of this project down by about half.
Minor Kitchen Remodel – A minor kitchen remodel is another project that provides a higher resale value to a home. Some kitchens do not need an entire remodel and may only require a minor facelift to update what many consider to be the most important room in the house. This may include less extreme updates such as adding new light fixtures, refinishing surfaces, painting the walls, replacing cabinet doors and hardware, or updating appliances to energy-efficient models. This is an excellent option for functional, but outdated kitchens and holds about a great cost-retention rate for resale.
Completing certain remodeling projects to a home can increase resale value and improve a seller’s chances of receiving a quick and attractive offer. Let these mid-range remodeling projects prove that even minor updates can add value and appeal to a broad audience without a major investment.
Jim Kabel is the owner of Case Design/Remodeling San Jose, a full-service custom interior remodeling company located in California’s Santa Clara County.
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