Home Improvements that Pay Homeowners Back
Are you considering home improvements for your North Central Maryland home in 2016? Wondering which ones will pay you back when the time comes to sell? According to a new cost vs. value report from Remodeling Magazine, large-scale jobs aren’t likely to return sellers their full cost. However, there are some improvements worth doing that will return almost 100% of their cost. As a general rule:
- Simpler, lower-cost projects tend to return greater value.
The national average cost for a steel door replacement was $1,230, for example. That’s the least expensive project on the list, and it ranks highest on the payback scale, returning 101.8% nationally on average. Other projects expected to top 100% payback include: the midrange garage door replacement, the upscale garage door replacement, the midrange wood window replacement, and the minor kitchen remodel.
- First impressions are important.
Consider replacements that will be most obvious to buyers when they first view a house in person or online, such as a new door or garage door. Both siding replacement and manufactured stone veneer provide great value at resale.
- Kitchens still offer the most remodeling bang for the buck.
A kitchen remodel with a national average cost of $19,226 offers a national average payback of 79.3%. Keep in mind, your kitchen remodel doesn’t have to cost a fortune. Take a look at this $967 Kitchen Remodel from This Old House Magazine for a few money-saving pointers and design ideas.
Top 5 projects nationally in terms of cost recouped:
1. Entry door replacement (101.8%)
2. Manufactured stone veneer (92.2%)
3. Garage door replacement—mid-range (88.5%)
4. Siding replacement, fiber cement (84.3%)
5. Garage door replacement—upscale (82.5%)
Just how much sellers can expect to recoup from home improvements depends on the job and the region of the country. There are also factors that vary from house to house and sale to sale, such as what updates are typical for the neighborhood, the quality of the work, and how important the improvement is to a particular buyer.
If you live in North Central Maryland, Frederick County Maryland, Washington or Franklin County Pennsylvania, let me help with your home improvements. Not only can I refer you to local companies that will help with your home improvements but I can also put in my two cents! Just give me a call at 301-514-3785 or email me at lisa(at)lisateachrealtor(dotted)com. I can offer suggestions based on my vast experience in this market and put you in touch with the best local company to help with your home improvements. Then when it’s time to sell your house, I can help there too!