Not all home improvement projects are equal. In fact, according to the Remodeling 2016’s Cost vs. Value Report (www.costvsvalue.com),1 recouping costs on home improvement projects can vary from 57% - 130% in our area! Prioritizing home improvement projects based on value is a smart way to recoup your costs in resale by using your home improvement funds wisely.
Below we’ll explore the three highest value improvement ideas from this report.
1. Attic Insulation – attic insulation topped the list as the highest return on your money. Even better? It’s also one of the least expensive home renovations. Attic insulation will save you money on lower heating and cooling bills all year long.
2. Entry Door Replacement – another low-cost and effective way to boost your home’s value is to replace the entry door with something updated and sleek. Both fiberglass and steel door replacements increase home value. Door replacements are a simple update that improves security and boosts curb appeal.
3. Garage Door Replacement – a new garage door provides ease and improves the look of your home. Garage doors are exposed to the elements, and can age faster than the rest of your home’s exterior. An updated garage door gives your home a fresh look.
Making home improvement choices based on value vs. cost will help safeguard your home’s resale value and puts your improvement dollars to work for you.
Ready to take on a bigger home improvement project? Contact our lenders today!
1 ©2016 Hanley Wood, LLC. Complete data from the Remodeling 2016 Cost vs. Value Report can be downloaded free at www.costvsvalue.com