Add Resale Value to Your Home with These Renovations

Facebooktwittergoogle_plusredditpinterestlinkedintumblrmail

According to Remodeling magazine and the National Association of Realtors, NOT ALL renovations and home upgrades are created equal when it comes to selling a home. Some renovations are worth a lot more than others in terms of gaining the most profit when selling the house. Here’s a few that will bring the most resale value out of a renovation:

  • Bathroom remodel. Update an average bathroom that’s at least 25 years old with moderately priced fixtures, a double-sink vanity, a ceramic-tile floor and vinyl wallpaper. An up-to-date bathroom makes your home look like it’s been kept in good repair, and that’s what buyers look for.
  • Minor kitchen remodel. Give a functional, but dated, kitchen a makeover. It includes new cabinet doors and drawers, a moderately priced wall oven, cooktop, counter top, sink and faucet and resilient flooring. Along with bathrooms, kitchen updates are almost always among the smartest remodeling projects for resale value.
  • Siding replacement. Siding makes a huge difference in a house’s resale value, because it’s one of the first things you see.  You’re not only making your house more attractive, you’re also improving insulation value.
  • Wood Deck. This relatively low-cost (less than $13,000, according to Remodeling magazine) renovation increases resale value by more than $10,000, which signifies an 80.6 percent return on investment.
  • Vinyl Windows. The average cost of enhancing your home’s curb appeal and increasing its energy efficiency by replacing old windows with vinyl is less than $13,000, but this remodel increases your home’s resale value by nearly $11,000. That’s a 76.6 percent return.

Here’s a great chart below that will give you more insight in to which home renovation projects are right for you.

(Click to enlarge)

Renovations with the Best Resale Value
Source: eLocal.com

[facebook] [retweet]

Joe Moshe
Follow Me On

Joe Moshe

Joe Moshe is the Broker/Owner of Charles Rutenberg Realty Long Island, offering 100% commission to Agents. With over 1000 agents, it's one of the fastest growing, most progressive real estate brokerages on Long Island.
Joe Moshe
Follow Me On
rss