If you are thinking of remodeling your home, MN Home Improvements would love to help. Our expertise can guide you in where to spend your hard-earned money for a remodel that returns the most in resale value. Even if you plan to renovate and stay in your home, considering the return on your investment is always smart. Surprisingly, our research has proven the bathroom and kitchen are not a part of this list. Here are the home renovations that return the most in resale value:
Have you ever heard that buyers determine whether or not they will purchase a house within the first 30 seconds? To some extent, this is true. Boosting the curb appeal could not be any more important if you are planning to list your home for sale. Replacing home siding recoups almost 93% at resale according to HGTV. Even minor improvements to curb appeal, like new front steps, new lights, or a new front door make a huge impact.
According to bankrate.com, installing wood floors on average costs $5,500 and homeowners recoup about 91% of that. Diynetwork.com suggests oak floors can be found at liquidation centers and salvage yards on discount, making them not as expensive as you might think. You can always choose the stain color by sanding real wood floors down and refinishing. Installing wood floors throughout your home give the appearance of larger spaces, make your home more friendly to people with allergies or pets, and are easier to keep clean.
Every 1,000 square feet added to a home boosts the sale price by more than 30 percent, according to the 2005 study for the National Association of Realtors. Adding an extra bathroom in your home, especially a home that has more than two bedrooms, is the most worthwhile addition. If you do not have the ability to add-on, considering finishing a basement or large attic space for extra square footage.
A New Roof
The average roof costs $7,600 to a homeowner but returns $8,000 at resale. That’s a 105% return on investment and makes a new roof our number one pick for where to spend your remodeling dollars. Of course, if your roof is already functional, you should spend your money elsewhere. But home buyers definitely see a new roof as a huge perk!
Now you know the top places to spend your remodel dollars. Did any surprise you? Home improvements that make your home more comfortable and practical to live in actually return more than style-specific remodels to a bathroom or kitchen. If you are wondering how to improve the value of your home, call MN Home Improvements to get a free consultation today!