Whether you are planning on selling your home or simply want to update the style in your house, you want to make sure the home improvements you make will have the greatest return on investment. Many of the top renovation projects designers, real estate agents and contractors recommend will also greatly increase the value of your home so you can recoup the costs. Areas in your home that will increase the value of your home the most are adding a deck, updating your kitchen, window replacements, and new siding.
It does not matter what the state of the economy is because all of these improvements will still increase the value of your home and the likelihood that you’ll be able to more quickly sell it. Improving the overall curb appeal of your home is one of the top buying motivators in today’s real estate market.
With most home buyers searching for houses on the Internet, the way your home is depicted in photographs may be the motivating factor that will bring potential buyers to your house. The curb appeal of your home is critical and how it will be depicted in online digital photographs. If your house has not been updated and looks like it is in poor condition on the outside, you very likely will not get much foot traffic from buyers.
With this in mind here are the top 10 home improvements for the greatest return on investment:
- Replacing exterior siding (Fiber cement) (ROI 88.1%)
- Adding an outside deck or (Wood) (ROI 85.4%)
- Replacing exterior siding (Vinyl) (ROI 83.2%)
- Kitchen remodeling (Minor) Replacing exterior siding (Fiber cement) (ROI 83%)
- Replacing exterior siding (Foam backed vinyl) (ROI 79.7%)
- Replacing window (Vinyl) – (ROI 79.3%)
- Replacing windows (Wood) – (ROI 79.3%)
- Remodeling bathroom (ROI 78.3%)
- Kitchen and remodeling (Major) (ROI 78.1%)
- Adding an outside deck (Composite) (ROI 77.4%)
Remember, if these projects are ones that you cannot do yourself higher a competent and experienced licensed contractor.