Not all home improvements are created equal. These will reward you the most when it comes time to sell. Your home is in the perfect location, came at the perfect price, with the perfect lot. But the home itself? Perfect isn’t the adjective you’d use. You are wanting to start making it move them just a place to land your feet.
But where to being? How about with some data. Data is that friend who tells you like it really is. Because while any home improvement that brings you joy is priceless, not all add as much home equity as you might expect.
The “Remodeling Impact Report” from the National Association of Realtors has tons of data on how much improvements cost and how much of those costs you can get back in the sell/ buy of your new home.
Listed below are the Seven Best home remodeling project with equity-building:
- New Roof-If you find yourself sprinting for the buckets when it starts to sprinkle, getting a new roof should be your No. 1 to-do. Measuring rainfall from the indoors isn’t cool.The cost: $7,500The return: 109% at $8,15
- Hardwood Floors:Hardwood floors are a timeless classic. Refinishing is a no-brainer. Neither will you regret adding new hardwood floors if you have none.The cost to refinish: $2,500The return: 100% at $2,500The cost to buy new: $5,500
The return: 91% at $5,000
- New Garage Door:No surprise that a garage door replacement project made it onto this #winning list — a new garage door provides a big boost for your home’s curb appeal at a relatively modest cost.The cost: $2,300 (for a two-door)The return: 87% at $2,000
- Better Insulation:Insulation is tucked out of sight, so it’s often out of mind — that is, until you’re forced to wear your parka indoors because it’s sooo darn cold.The cost: $2,100The return: 76% at $1,600 (plus the added savings on heating and cooling costs!)
- New Siding:hose are two of the three benefits of vinyl siding. The third, of course, is your home’s value.But if long-time homeowners look at you funny when you mention vinyl siding, just tell them that today’s vinyl is way better than what they remember because of fade-resistant finishes and transferable lifetime warranties.The cost: $13,350The return: 75% at $10,000