Are you into flipping homes, considering selling your home, or simply looking to add equity to your current property? If you answered yes to any of these questions, it will be important that you choose the right updates and areas of the home to update. While all remodeling is beneficial to the resale value of your home or investment property, there are certain projects that are far more profitable than others. Ensure that you get the most return for your investment by choosing these areas for update!
Replace the Garage Door
A worn, unsightly garage door can be an eye sore and deter potential buyers. This simple remodel typically gives you at least 81.9% recoup on your investment. Remember these improvements lead to significantly more profitable sales when you sell or resell your property.
Consider A Minor Kitchen Remodel
The kitchen is one of the most important rooms of the house. Therefore, it is also one of the most profitable areas to remodel. Typically, you will recoup at least 89.1% of your investment.
Or Maybe Try A Major Kitchen Remodel
If the kitchen in your home is small, cramped, and has seen its better days altogether, it may be time to tear the entire thing out and start from scratch. A new kitchen is a great way to add equity to your home and maximize your profits if you plan to sell or own the home simply as an investment property. Statistically speaking you will recoup at least 85.6% of your investment on such a project.
Redo the Entrance
First impressions count, that is why it is crucial that your home sends off an inviting vibe to potential buyers. An outdated entrance can make the entire home look less attractive and immediately take away curb appeal. Consider redoing the entrance to make it a grand entrance. The return on this investment will be at least 79.7%.
Invest in a New Roof
Replacing the roof can be a great asset to your property. Those in the market for a home will be turned off by a home needing a major repair such as a new roof. A new roof can also help the aesthetic appeal of your home. With a return of at least 80.0%, updating the roof is a no brainer.
Add a Deck
A deck or patio instantly extends the viable living space of a home significantly. Adding a deck can be a great selling point for any property. This also has a great return on investment at 79.1%.