One of the biggest mistakes a homeowner makes is thinking that any improvement will add resale value to its home
What may seem like a significant improvement to you, might not make any difference once the appraiser comes around. But, some improvements will add value, both personally and financially. If you’re going to spend the money on exterior renovations or reconstruction, be smart and start with the project that will bring you the best return on investment (ROI).
We’re going to focus on the most profitable exterior renovations. Before you get the buyer inside your home, you need them to fall in love with the outside. After all, it’s the first thing they see. If you are looking to sell, or just protecting your biggest investment, these are some of the exterior improvements that will give you the best ROI according to Realty Times.
Renewing your siding is an excellent place to spend your renovation budget for the best ROI
Stone veneer will add a little character to any home, and you’ll be happy to know that this exterior improvement can bring as much as 92.2% ROI. If stone veneer isn’t your taste, replacing your current siding with vinyl siding can bring you up to 80.7% ROI. Taking care of your siding, making sure it isn’t cracked, dented, faded, etc. will keep up the value of your home. If your siding needs replacing, whether it’s stone or vinyl, this is an exterior renovation that is well worth the initial investment.
Reconstruction and renovations projects aren’t cheap, and homeowners tend to spend their dollars in the main house on their property. That means that you see a lot of beautiful homes and a lot of old garages. Once potential buyers spot that beat up garage, your home starts to look a little less appealing. And whereas you may think that there are other more profitable renovations to be done before you get to the garage. You’ll be happy to know that simply replacing the garage door can give up to 88.4% ROI. So, don’t underestimate the return value on a new garage door.
Speaking of doors, no exterior renovation project will pay off more than getting a steel entry door. Switching to a steel entry door will give you 100% ROI, maybe even more. This investment will pay for itself.
And remember, whatever you decide to improve upon finding the right contractor and spending a little extra so you get the best materials possible will ensure that you get the ROI that you expect.