03 May 6 Renovations that Add the Most Value to your Home

Real estate agents always talk about curb appeal for increasing the value of a home, along with expensive renovations that often cost far more than the value they add to the home itself when it’s time to sell. Even if you don’t want to sell your home, there are some renovations that will make your home more comfortable, livable and increase value.

Flooring

New flooring has the ability to make any room look more vibrant. Wood is the flooring of choice, whether it’s solid or engineered hardwood, and will provide the biggest boost in resale value. Vinyl plank tiling can give you the look of hardwood, but won’t cost as much as wood.

Windows

The windows are the “eyes” of your home and you want them to look good. Installing new energy efficient windows can set you back up to $20,000, depending on your home, but you’ll be able to get back about 72 percent of the cost of installing them. Buyers are always seeking money-saving features that are already installed.

Garage Door

You’d be surprised the difference that a new garage door can make. It has the ability to completely change the perception and look of a home. If you don’t have an automatic garage door opener, consider getting one to add convenience to your new garage door. You can recoup about 94.5 percent of the cost if you’re selling your home.

Kitchen

Rather than remodeling the entire kitchen, simply upgrading old appliances to energy efficient models will make the kitchen area appear more modern. Other types of updates such as cabinets and/or countertops will also add appeal. No matter which type of update you decide on, you’ll be able to recover about 77 percent of your monetary outlay.

Bathroom

Showers, sinks, tubs and toilets can easily become dated. Upgrading them with new models adds value and will make even a smaller bathroom more inviting. You’ll typically realize a 102 percent return on the cost.

Extra Room

If you have a small room that’s underused, turning it into a home office can return about 72 percent of the conversion cost when you sell. The same is true if you transform it into a guest room.