Most people think that having their kitchen or bathroom remodeled is the best way to renovate their home, but usually other projects can get better results. In other words, did you get your return on the investment? There are many projects to work on when remodeling the house but which one is the most efficient? Which one will boost your house price the most? Here is a list of a few of the most profitable projects you can work on in your house, according to Remodeling’s 2016 Cost Vs. Value report –
Entry Door Replacement-
Entry doors have a huge impact on your house appearance. They are basically the first thing that your guests see when they enter your house. Getting a new entry door to your house can really upgrade the look of your house and also raise its value. Entry door projects average 107.6% ROI, depending on the materials that are used (fiberglass or steel).
Manufactured Stone Veneer-
Adding some stone to your house appearance can really boost up its look and its price. The latest report shows ROI of 118.2% on stone veneer projects. A beautiful old age look will cost you about $7,566 and the resale value will stand on $8,942 (almost $1,500 difference).
Garage Door Replacement-
Another project that tends to yield a great return on investment could be replacing your garage door. Although it is probably not popular as kitchen remodeling or room additions, garage door project can give you a better profit. Garage door projects stand on 115% ROI according to the report. They usually cost around $3,230 and add $3,715 to the resale value ( $485 difference).
Minor Kitchen Remodel-
Kitchen remodeling is probably one of the most popular projects in the industry. People tend to think that kitchen or bathroom remodeling are the most valuable projects to do in their houses. The fact is that Major kitchen remodelings or bathroom remodelings tend to leave negative ROI (around 65%-75%). However, making minor changes around your kitchen, instead of remodeling it all, can, actually, yield a nice ROI. According to the latest report, minor kitchen remodeling averages 103.1% ROI. An average project will cost you around $22,493 and the resale value will stand on $23,187.
Attic Insulation (fiberglass)–
According to the yearly report, replacing and fixing your roof insulation can yield the most profit in percentage when it comes to home improvements. The return on investment (ROI) for these types of projects can go up to 142.7% of the project cost. To put it in numbers, an average job will cost you $1,320 while the resale value will stand on $1,882. That means that you gain $562 on your investment if you want to sell the house.