Renovations That Are Worth Their Weight in $$
Are you ready to renovate your home in Reston? Customizing your home to your personal tastes and needs can be costly, so it’s good to know which renovations will yield the most bang for your buck.
Think Marketability
Though you may have your heart set on a gourmet kitchen or master bath, for the best value it all comes down to curb appeal. According to Remodeling magazines annual Cost vs. Value Report for 2019, upgrades that perk up the exterior of your home bring the highest return on investment (ROI). Most renovations, whether inside or outside, will add some value, but those exterior fixes and upgrades generally surpass interior changes.
Exterior Upgrades
Replace the Garage Door
While the least glamorous of home improvements, a new garage door will do the most to increase the value of your home, bring you a whopping 97.5% back. A new garage door amps up your homes curb appeal, which means more potential buyers coming your way.
Manufactured Stone Veneer/Siding Replacement
Manufactured stone veneer installed in front of the exterior of your home makes it look as though your home is made of stone. Another bump for your home’s curb appeal, expect a 94.9% ROI. If manufactured stone veneer is too pricey for your budget, new siding is a cheaper option, with a lower ROI of 75.6%.
Wood Deck Addition/Patio
If your home doesn’t have a deck in your back yard, adding one will give you a place to hang out and entertain, while bringing you 75.6% at resale. A backyard patio also provides entertaining space and yields 55.2%
Entry Door and Window Replacement
Doors and windows are easy to overlook but are important features for most homebuyers. No one wants to deal with a flimsy front door or windows that leak or stick.
A beautiful, sturdy new steel front door offers a 74.9% ROI. New vinyl windows bring a 73.4% ROI, with wood windows coming in at 70.8%.
Interior Upgrades
For interior renovations, less is more when it comes to return on investment. The more upscale you go with your interior changes, the less you’ll see back in your pocket down the road.
Kitchen Renovations
There is no need to give up the plan for your dream kitchen, with modern kitchens high on homebuyers list of priorities. Just keep in mind the cost differential between a complete overhaul versus making incremental changes. A minor kitchen remodel, including things like new appliances, countertops, and paint, brings an 80.5% ROI. If you decide to gut your entire kitchen and do an upscale remodel, complete with things like custom cabinets and a commercial-grade cooktop, your ROI drops down to 59.7%.
Bathroom Remodel/Addition
A high-end bathroom remodel will bring you a 60.2% ROI. Scale things down a bit and your ROI jumps to 67.2%.
When adding a bathroom to your home, plan on a 58.1% ROI for an upscale addition. Scale down your expectations and go for something more modest and your ROI jumps to 60.6%.