Want to make your home more attractive to buyers? Whether you’re putting your house or condo on the market now or in a few years, it’s tricky to know what remodeling projects will pay off.
Thankfully, Remodeling Magazine released its 2018 Cost vs Value report, which gathers the average cost of individual renovations and compares it to real-estate agents’ estimate of that home’s final resale price. (Note: this is U.S. data, but you can expect similar trends here in Canada.)
When it comes to home renovations, here are the biggest bang for your buck.
Garage Door Replacement
98.3% return on investment
Ah, dented and mangled garage doors. Looks like your future NHLer needs to work on his wrist shot. At number one on the list, a new garage door—which can account for almost half of your home’s façade—gives you the highest boost in curb appeal.
Manufactured Stone Veneer
Want a timeless look to your home? Manufactured stone veneer looks just like the real thing, is super durable, and you don’t need an emperor’s budget to afford it. Home buyers think it rocks, too. Manufactured stone veneer can replace your home’s entire façade. Or you can use it as an accent on the corner and bottom portions.
Wood Deck Addition
Particularly if your backyard gets lots of sun exposure, a wood deck addition opens so many possibilities. Now you have a convenient nook for your grill, space to plant flowers and herbs, and a spot for a patio table and chairs.
Minor Kitchen Remodel
Even if your kitchen is a relic from the 1970s (mmm, burnt orange and avocado green), you probably don’t need to demolish and start from scratch. Instead, plan a minor kitchen remodel. Replace cabinet fronts, install new energy efficient appliances, swap countertops, lay down new flooring, and find a new kitchen table. Done.
Vinyl Window Replacement
Vinyl windows have been on the market for more than 30 years, but they’re now the most popular style of replacement window. Can’t argue with the benefits over those old flimsy wood or aluminum frames. Vinyl windows are strong, energy efficient, recyclable, and affordable.
Mirror, mirror on the wall—whose bathroom is fairest of all? Not yours, I’m afraid. A bathroom remodel includes replacing fixtures, backsplash, and countertop, installing a tub and water-efficient toilet, as well as a new medicine cabinet and vanity.
By far the fastest way to breathe new life into your home—aside from an intensive spring cleaning—is putting a fresh coat of paint on your walls. Best of all, this is something any homeowner can do themselves. Here’s how:
- Cover the floor. Plastic is cheaper, but canvas is absorbent and won’t trip you.
- Prep the walls. Touch up any dents, holes, and surface imperfections with filler.
- Apply primer. This is mandatory for unfinished walls and recommended for already painted walls because the top coat of paint will adhere much better.
- Get painting!
If you have plans of selling but don’t want to spend much money before selling but want to make sure you get the best price possible, here’s an article for you – When selling… some things help – some don’t.