2015’s Top 3 Home Improvement Projects With The Highest Return on Investment
According to the 2015 Remodeling Magazine Cost VS Value Report for the entire South Atlantic region of the United States, replacing your front door, adding manufactured stone veneer to your house exterior, and replacing your garage door will give you the highest return on your investment in your home.
Although these home improvement investments give you the most return when you sell your home, other interior remodeling projects may be more beneficial. There are two projects that may stand between selling your house quickly and at a higher price, and having the house sit on the market unsold. Those two projects are a kitchen remodel and a master bathroom remodel.
The kitchen is the heart of the home and the master bathroom is especially important to women as a sanctuary. If either, or both, are tired looking, old, and unappealing, you have a problem on your hands. Even though a major kitchen remodel will provide only a 67.4% and a bath remodel will provide only a 72.7% return on investment, they may need to be performed for a relatively prompt and profitable sale. Seek the advice of a professional Realtor.
A Look at the Top 3 Home Improvement Investments
1. Replace Your Front Door
This might seem like a fairly minor home improvement, but, replacing your front door has been shown time and time again to bring an amazing return. A new steel door averaged a 112% return. When looking at cost versus value, a new door is the top of the list.
Put yourself in the shoes of a potential buyer. You pull up to a house you are interested in and you see the landscape, the trees, and the shrubs are not in the best of condition, but they’re fixable. Then you walk up to the front door and it is old looking, worn, and has splintered wood. You are about to literally walk through the door to your future… do you want it to look old and decrepit?
Now, picture a new, steel door with a fresh coat of paint. It looks strong and safe. This puts the buyer in a positive state of mind before they even step foot in your home.
A replacement steel door averages a 112% return on investment – by far the highest return.
2. Manufactured Stone Veneer
This is the first year projects involving manufactured stone veneer have been included in the report. The cost and value estimates are based on a project that calls for installing 300 square feet of manufactured stone veneer on the bottom third of a house.
The appeal of this project is in making a good first impression and giving the house an upscale look. That’s why this project averaged a 93% return on investment.
3. Garage Door Replacement
Just like with the front door, replacement of the garage overhead door with an embossed, steel one offers a good return on investment at an average 91.6%. This is for all the same reasons as the front door but on a larger scale due to its larger impact on curb appeal. This is especially true for a front loading garage.
Leading Edge Homes, Inc. is a Florida state certified general contracting company specializing in room additions, bathroom renovation, kitchen updates, and hurricane-resistant screen enclosures. In business, since 1991, the most important thing they build is your trust. Contact them at 561-795-2551 or visit their website for more information about how they can help you with your next Palm Beach County home remodeling project.
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Thank you for your response. Yes, according to Remodeling Magazine, replacing your front door with a steel door gives you the greatest return on your investment. However, over time, it may rust and have to be replaced again. If you are planning on staying in your home, you may want to choose to replace the front door with a fiberglass door. The initial price may be higher, but the long term cost is less.