It definitely seems that in real estate this year.The year started out so promising with mortgage interest rates dipping below 6% and inventories of housing on a slow but steady increase.
4 Remodeling Projects Worth the Investment
Dated: April 28 2018
Views: 554
4 Home Improvements with High Returns
Remodeling your home can be a great way to increase its value and ensure you get good returns when it comes time to sell. But before you go tearing out your floors or adding another bedroom, take note: Not all projects are created equal. In fact, according to recent data from Remodeling Magazine's Cost vs. Value report, there's a pretty big discrepancy between which projects deliver high returns and those that don't.
Want to make sure your remodels are worth the effort? Here are some top options:
- Get a new garage door. It seems simple, but replacing your garage door is the most value-adding project you can take on. On average, it delivers returns of more than 98 percent upon resale.
- Focus on curb appeal. Upgrades to exterior areas saw serious growth over the last year. Wood deck additions increased over 18 percent in value, while stone veneer installation value was up almost 14 percent.
- Replace your entry door. Don't bother sprucing up old doors. Replacing them with steel models can deliver a whopping 91 percent ROI. And at an average cost of $1,471, they're one of the most affordable updates for your home.
- Upgrade your kitchen. Minor kitchen remodels continue to be a top value-adding project. This year, the average small remodel adds about $17,193 to your home's value and recoups more than 81 percent of your costs.
You might want to rule out projects like backyard patios, master suite additions and major kitchen remodels -- they're notorious for low returns. If you're looking to boost your home's value and increase its marketability, focus your efforts on projects that improve aesthetics and add ease and convenience instead.
Dave and Ann Feerhusen
"Experience you can trust!" I am very fortunate, along with my partner and wife, Ann, to have spent my career of 41+ years helping people successfully market their homes in the Twin Cities. We have ha....
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