In today’s tough economy and real estate market, more homeowners are thinking of their remodeling projects in terms of maximum resale value. In addition to enjoying the renovation while you live in a house, it is nice to recoup some of the cost when you go to sell your house.
Remodeling doesn’t yield the value it did a couple of years ago, but some home improvements are still a better bet than others.
The top 5 ‘moderate’ (not a major overhaul) projects ranked in cost to value perspective, returning 72.2% or more of their cost are:
- Entry door replacement
- Garage door replacement
- Minor kitchen remodel
- Deck addition
- Window replacement
As a Realtor®, I wouldn’t recommend remodeling solely for resale value at the moment, but if you are thinking about doing some updating anyway, you might consider these five things. And if the current real estate market is preventing you from moving to another house, you might want to make your current house more to your liking.
This data comes from Remodeling Magazine, which breaks it down by region of the country as well.