Welcome Home Realty of Charleston
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10 Best Home Improvements: 2021 Guide
Posted By: Youlia Apostolova In: SALESDate: Sat, Nov 27th 2021 4:43 pm
1. Garage door replacement
New garage doors can make a home look and function better. The average cost to replace garage doors is $3,907. Of that, you can expect to add $3,663 of value when you sell your property. All told, you'll recover 94% of your investment.
2. Manufactured stone veneer
Ask any real estate agent, and you'll hear that curb appeal could be your ticket to commanding top dollar for your home. And that's why investing in manufactured stone veneer (a fake stone that's engineered to look like natural stone) makes sense. The average cost to install a manufactured stone veneer is $10,386, of which you'll add $9,571 of resale value. That means you'll recoup 92% of your cost.
3. Minor kitchen remodel
A kitchen can be a home's main selling point. But rather than go all-out on an upgrade, consider a minor remodel. At an average cost of $26,214, you're likely to add $18,927 of resale value to your property -- 72% of your cost.
4. Fiber cement siding replacement
Fiber cement mimics the look of wood, only without extensive maintenance. And because it's not actually wood, it won't rot or warp over time. The average cost to put in fiber cement siding is $19,626. Of that, you can expect to add $13,618 of resale value to your home, which means you'll recoup 69% of your outlay.
5. Vinyl window replacement
Updating your home's windows won't lend just aesthetic appeal. It can also lead to better insulation, which could be a key selling point. The average cost to replace a home's windows with vinyl is $19,385, which should add $13,297 of resale value. That represents 69% of your investment.
6. Vinyl siding replacement
Vinyl siding is durable and easy to maintain, so it's a popular choice for homes in areas with extreme climates. The average cost of replacing vinyl siding is $16,576. Of that, you can expect to add $11,315 of resale value, which allows you to recoup 68% of your cost.
7. Wood window replacement
Wood windows offer a classic look that can enhance any home. And while they are a bit expensive, coming in at an average of $23,219 for a whole house, this investment will add $15,644 of resale value and recover 67% of your cost.
8. Wood deck addition
For many potential homebuyers, outdoor living is key. Installing a deck can help property owners maximize their outdoor space, and wood is a relatively low-cost material compared to composite. The average cost to put in a wood deck is $16,766. Of that, you can expect to add $11,038 in resale value to your home. All told, you'll recoup 66% of that expense.
9. Steel entry door replacement
A steel door isn't just a solid security feature. It can also offer great insulation, making it a smart investment for homes that tend to experience extreme weather. The average cost to put in a steel door is $2,082, and that should add $1,353 of resale value to your home, which translates to recovering 65% of your cost.
10. Landscaping
A study by RealEstate.com suggests that landscaping and hardscaping can deliver a return on investment as high as 150 percent – an ROI that puts it ahead of popular home improvement projects like kitchen or bathroom updates.
Make your investments count.
Of course, all of these figures are just averages, and in some real estate markets, certain upgrades may be more worthwhile than others. If you're going to sink money into improving a home, it pays to focus on the projects that are most likely to pump up your resale value. It pays to consult with a local real estate agent to see which renovations are likely to be the most financially rewarding for you.
Youlia Apostolova
Welcome Home Realty of Charleston
(843)297-2500
youlia@welcomehomerlty.com