Home remodeling can vastly improve your living space and give your home what you need – be it more space, accessibility or aesthetic value. But when it comes to selling your home, remodeling is a powerful tool to vastly increase the selling cost.
That said, some remodeling projects are a great opportunity, while others are a waste of time and resources. Some remodeling projects come with a large price tag and do not affect the resale value much. That is why you need to know which remodeling projects are guaranteed to cost less but bring more bargaining power to the table. Essentially, the more money you can recover from the project when reselling, the better the project
We looked at Remodeling Magazine’s 2021 Cost Vs Value Report and spoke to the experts at Ten Key Remodels to learn more about the remodeling projects with the highest ROI in terms of reselling your home. Here’s what we learned!
Replace Your Garage Door
When it comes to getting the highest ROI when reselling your home, nothing beats a brand new garage door. The price of the project involves moving and getting rid of the 16-7 foot element and replacing them with a brand new garage door with improved sensors, durability and a brand new mechanism. Not only does this vastly increase the curb appeal of your home, but you are also likely to recover just over 93% of the project value when reselling.
Add A Stone Veneer
One other lucrative investment is replacing vinyl siding on a part of your home with a stone veneer. This will greatly improve the look of your home exterior while at the same time being more water and corrosion-resistant. The result is a great remodeling project which helps your recover 92% of the cost.
Glass room dividers
Room dividers are the method to optimize your home and office space. Partitioning the sector creates a privacy area by saving you from the hustle of new construction. Another advantage is natural- light can pass through it. Glass panel room dividers, apartment room dividers, studio room dividers, home gym dividers, living room dividers, office room dividers, and kids room dividers are the few types of glass room dividers to manage the spaces efficiently. It is safe to use and comes in 5-7mm or 10-11mm or you can also get the customized size.
Kitchen Remodel
Kitchen remodels are by far the most popular with homeowners, both those selling their home and those looking to improve their living space. A kitchen remodeling project can help you create a functional and modern kitchen that will make friendly gatherings, cooking and dining a lot more enjoyable. When doing a few minor adjustments, you can hope to recover roughly 72% of the remodeling cost. The remodeling may include getting new, energy-efficient appliances, resurfacing the old cabinets, adding new countertops, installing a new 30 inch stainless steel farmhouse sink, replacing the flooring, and adding a new coat of paint or wallpapers.
Vinyl Siding
Adding a vinyl sliding will no doubt give your home exterior a fresh look and is a great, affordable remodeling option. With a new vinyl siding, you can recover around 68% of the cost of the investment when you resell your home.
Fiber-Cement Siding
Worn-out siding can really affect the overall aesthetic of the home, even if its new and cozy on the inside. In most cases, you can hope to recover over 69% of the original project cost when you sell your home.
Add Vinyl Windows
You can hope to recover nearly 70% of the remodeling cost to replace your old windows with simulated vinyl windows with an exterior finish in the color of your own choosing. These windows feature low emissivity, which makes them natural and budget-friendly. However, make sure the exterior of the windows matches your overall exterior.
The Takeaway
Any home remodeling project is a great opportunity to increase your home’s resale value. Renovations are taken into account when you refinance your home. The more value your home has the higher your equity. Even if you are selling your home, a remodeling project will both increase the value and the chance someone will take a liking to it and purchase it. However, make sure you don’t go overboard with the costs and end up paying more for the remodeling than what you earn in the end.
