Return on Investment; Remodeling
Whether you're calling contractors and looking at architect plans or still adding pictures to your Pinterest page, home improvements are an investment, and your return on investment is important to consider when choosing a project.
If you want to maximize the resale value of your home, forget the steam shower and start getting excited about garage doors. National averages for cost recouped on exterior replacement projects outperformed most interior projects, according to any ROI search on google.
A new garage door cost averages $3,600 with the added resale value at $3,520.Now not everyone is in the market for a new garage door, but this is one of the highest paying projects you can do for your home.
If your main concern is the profit you will make from your home projects, you may want to consider what's trending in your area rather than your personal design preference. Take a look on all of those fancy real estate apps to see what the homes around you are looking like.
A few other high percentage project averages we found were:
1.Deck Addition 75% ROI
2.siding replacement 76% ROI
3. Front door replacement 74% ROI
4. Major Kitchen remodel 71% ROI
These numbers may not sound astonishing, but when you consider all of the other projects you do on a regular basis such as landscaping, painting or adding recycled pallet wood to your dining room wall, they start sounding pretty good. The right projects paired with a good real estate market can really help skyrocket your homes value.
You are planning to stay there a while? Then maybe you can go for opting out of the white subway tile and go with something different. There is something to be said for having your home designed just the way you like it rather than focusing so much on your profit. I mean you are the one that has to look at it everyday.