HOME REMODELING PROJECTS THAT PAY OFF AT RESALE

 

There are four major reasons why homeowners want to embark on a home upgrade endeavor. First, repairs for some sections or fixtures of the house are in order and they might as well turn these repairs into a major home improvement project. Second, they need an expansion/addition to existing sections. Third, it’s for beautification purposes. And the last and most common reason is that homeowners are making sure they get the best returns on their home come resale time.

 

If you’re planning on a home remodeling project based on the fourth reason, then this article is for you. Let me present to you a list of ideas for smart home remodels that will pay off quite handsomely at resale - but first, let’s tackle the difference between home maintenance and home renovation or upgrades. Home maintenance does not add value to your home; instead, this keeps it at its present value and makes it sale worthy. Examples include fixing a leaky faucet or cleaning the bathroom tiles. Home renovation, meanwhile, brings a development in your home. For example, replacing your existing lights with LED bulbs brings a long-term advantage: cost efficiency from lower energy consumption.

 

And now, for those top smart home remodels that will assure you of winning returns at resale. Note that these come from the latest cost vs. value review by Remodeling Magazine of 22 home renovation projects across 101 markets in the country:

 

 

Cost of the job: $9,357
Cost at resale: $8,943
ROI: 95.6%

 

It may not be real stone, but this kind of exterior wall siding can win you several plus points on the aesthetic meter for curb appeal. And apparently, potential buyers are loving this. In fact, this home upgrade has just unseated the next popular home remodeling project from its #1 spot in last year’s rankings.

 

 

Cost of the job: $3,695
Cost at resale: $3,491
ROI: 94.5%

 

As stated earlier, this was the home improvement project for 2019 that had the highest gains at resale. It still commands a high ROI of 94.5% this year. Replacement in this sense may be in the form of changing the material used. Wood may splinter over time so a steel up-and-over garage door may just be what you need for curb appeal, form, and function points.

 

 

Cost of the job: $23,452
Cost at resale: $18,206
ROI: 77.6%

 

You can’t go wrong with a minor kitchen remodel! Just make sure that in doing so, you manage to stick to your budget and still get the makeover your kitchen deserves. Here are some ideas for kitchen remodeling with a midrange budget:

 

• Replace old flooring with fresh flooring material that can take high human traffic and spills.
• Re-laminate your greasy scratched counters with a modern laminate that can withstand high temperatures and scratches.
• Update an appliance with an energy-saving one - like your refrigerator or microwave.
• Replace cabinet doors and place shiny new knobs and handles on them.