Renovations: Good for Resale?

According to a recent edition of the respected trade publication *Remodeling*, the top 23 major home remodeling projects were highlighted, with five of them offering homeowners more than a 100% return on investment (ROI). If you’re considering a home renovation, here are five standout projects worth contemplating:

1. HVAC Conversion

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While electric heat pumps might not be the flashiest upgrade, they are increasingly popular among homeowners looking to replace old fossil-fuel furnaces. Heat pumps offer dual functionality—heating in the winter and cooling in the summer—making them a smart choice for regions with high cooling costs. This eco-friendly option costs about $17,747 on average but promises a remarkable ROI of over 100%, making it a worthwhile investment.

2. Garage Door Replacement

Garage doors play a crucial role in your home’s curb appeal, and upgrading to modern, four-section doors on heavy-duty galvanized steel tracks can make a significant impact. Often, these new doors can work with your existing motorized opener. This upgrade not only enhances your home’s appearance but also offers an impressive ROI of over 100%.

3. Minor Kitchen Remodel
If a full kitchen renovation is beyond your budget, consider a minor remodel to refresh your space. Instead of a complete overhaul, try refacing your cabinet fronts, updating handles and pulls, installing a new countertop or sink, replacing the flooring, and giving the walls a fresh coat of paint. These updates can transform your kitchen and provide an ROI of more than 85%.

4. Enhancing Your Outdoor Living Space
Expanding your living area outdoors is a fantastic way to enjoy your home more. Adding a deck can significantly boost your relaxation and entertainment space. While the cost can vary, with an average around $8,000, the ROI for this project is around 50%. Although this may seem modest compared to other projects, the enjoyment you get from an outdoor space is invaluable.

As you consider your next home improvement project, keep in mind the potential return on investment. Making informed decisions can lead to both financial and personal rewards. For more information on choosing the right renovation projects for your home, feel free to reach out to me. I’m here to help you make the best choices for your home and your future.