When it comes to home improvements, there are a few factors to consider when deciding where to put your money. Will this improvement increase the value of the house to you and will it increase the value of the house to others? The most valuable home improvements are those that increase your home’s value in conjunction with what they costed. Unfortunately, some improvements are subjective and don’t increase the value of your home. Here’s some info on which home improvements give you the biggest bang for your buck:
1.) Upscale garage door
It may not be the biggest update, but replacing your existing garage door with an upscale version will yield you about 98% in recouped costs in most places. What is an upscale garage door? The best garage doors are those built with very durable materials such as steel, wood composite, or aluminum, and that have high-performance additions such as energy-saving glazing and insulation. Wood, while a classic choice aesthetically, is not as weather-resistant as other options. If you want a wood garage door, get the best of both worlds by choosing a fiberglass or wood composite, which can have the same appearance as wood without the downfalls.
2.) Manufactured stone veneer
Another home improvement that offers a great return on your investment is enhancing the outside of your home with a manufactured stone veneer. This material isn’t really stone at all—it’s a man-made composite material shaped into molds. It has the same look as real stone and is installed in the same way, so it provides a great way to boost curb appeal and update an older exterior. Even doing just a part of the home (for example, the front) is enough to reap benefits. The average return on investment for manufactured stone veneer is over 97.%.
3.) Wood deck
Seeing a pattern here among the best home improvements for ROI? The updates that are the best value tend to be on the exterior of your home. Wood is a great option as a composite deck addition or a backyard patio won’t yield quite as ROI as wood, which stand at nearly 83%. Composite deck and patios yield an average ROI or of around 64% percent and 48%, respectively.
A 16 foot x 20 foot wood deck addition is a good starting place for your deck builder in Springfield IL, though the ideal size will depend on the size of your house and yard. You’ll want to add a railing system for added function, stability, and safety.
4.) Kitchen remodeling
Kitchen remodeling in Springfield IL is major player when it comes to good home improvements for ROI. Buyers often look to this room first when determining whether a home is worth its asking price, since most people want an upgraded kitchen without paying tons of money to get it after purchasing a home. There are many improvements you can make in the kitchen to fit your budget and objectives, from adding energy-efficient appliances to painting cabinets to installing new countertops.
What’s great is that you don’t have to spend big money in the kitchen to get a great return. A minor kitchen remodel will recoup about 81% of its cost on average, while a major kitchen remodel will recoup about 54%. The most valuable improvements in a kitchen remodel include modernizing the cabinets and countertops, upgrading to new stainless appliances, updating the plumbing fixtures, and updating the flooring.
5.) Siding and vinyl window replacements
Old, damaged, or deteriorating siding can date the look of your house a lot, and not in a good way. Fortunately, replacing your siding is a valuable improvement, with a 77% recoup rate.
And while you’re at it, why not complement the new siding with window replacement in Springfield IL? Low-energy vinyl windows provide a similar ROI to siding at 74% percent and will ensure that your new siding doesn’t clash with dated windows.
6.) Bathroom remodeling
A standard bathroom remodel in Springfield IL (including updated tile, plumbing fixtures, counters, and lighting) will earn you a return of 70%. And like the kitchen, doing more doesn’t equate to higher returns. An upscale bathroom remodel is only going to net you a 56% return, and a new bathroom addition just 55%.
A great improvement for your bathroom is turning your standard bathroom into a universally accessible one. This includes widening doorways for wheelchairs, putting in a walk-in shower, lowering light switches, and installing support bars near the toilet. While this might not seem relevant for most of today’s buyers, it will be very soon. By 2050, there will approximately 83.7 million people ages 65+. Small accessibility modifications now will have major appeal as homeowners and buyers grow older later.