The Best Improvement Projects to Increase Your Home’s Value
Many property owners tackle home renovations like kitchen and bathroom remodeling to accommodate their family’s changing needs and style preferences. For example, you may want to upgrade to new smart home technology for the added convenience it brings to your daily life.
Some financially savvy people renovate because they want to command a higher selling price when putting their homes on the market. If that’s the case for you, you should choose projects based on their return on investment. The Cost vs. Value Report is a good starting point to determine the national average of various home improvements.
Top 5 Highest-ROI Home Renovation Projects
Depending on the project, homeowners in the South Atlantic region can expect to recoup an average of 58% of the money they spend. Still, some improvements have an even higher ROI than that. Here are the nation’s top five highest-ROI home improvement projects.
1. HVAC Conversion
Average cost: $17,747 nationally/$18,040 South Atlantic region
Average resale value: $18,366/$15,647
ROI: 103.5%/86.7%
Converting a gas furnace into an electric heat pump is currently the top renovation project. As many people look to lead more sustainable lifestyles, they appreciate easy ways to increase their energy efficiency at home. A heat pump saves you money on energy bills because it doesn’t burn natural gas.
2. Garage Door Replacement
Average cost: $4,302/$4,567
Average resale value: $4,418/$4,524
ROI: 102.7%/99.1%
Replacing your garage door is one of the most affordable high-return home improvement projects. It’s the second highest-ROI project in the South Atlantic region and nationally. Your garage door draws attention and affects your house’s curb appeal. By investing in a stylish garage door, you’ll also gain access to new technology that helps your garage door operate more smoothly and efficiently.
3. Replacing Skirting
Average cost: $10,925/$10,377
Average resale value: $11,177/$11,300
ROI: 102.3%/108.9%
Exterior home improvements are in high demand, and one of the most popular ones is replacing vinyl siding with manufactured stone veneer. Manufactured stone veneer is trendy because it makes your home more aesthetically pleasing and luxurious, thereby increasing its curb appeal.
4. Entry Door Replacement
Average cost: $2,214/$3,811
Average resale value: $$2,235/$2,007
ROI: 100.9%/52.7%
Replacing your entry door with a new steel one offers a high ROI and makes your home more secure. Don’t assume you have to stick with a solid white door — steel doors have many customization and design options. You can choose a steel door with a shimmering glass panel and decorative frame that resembles wood.
5. Replacing Siding
Average cost: $16,348/$14,893
Average resale value: $15,485/$14,667
ROI: 94.7%/98.5%
When you replace your existing siding with new vinyl siding, you restore your home’s original beauty. On the outside, your home will look like it did when it was brand-new, so replacing your siding is one of the top home improvement projects.
Increase Your Home’s Value With a New Garage Door
The top five home improvement projects increase your home’s curb appeal, attract more buyers and give you the most bang for your buck.
Replacing your garage door is one of the top renovations, and arguably the best to undertake, with minimal upfront costs and a high ROI. Additionally, it offers many benefits beyond improving your home’s resale value, such as gaining an up-to-date door with the latest smart home tech.
If you decide a new garage door is the right home improvement project for you, turn to the experts at RCS Garage Doors Carolinas for a helping hand. Our team of professionals can recommend the ideal choice for your lifestyle and aesthetic preferences. You can also check out our garage door imagination system to design the garage door of your dreams. Contact us today to learn more or schedule an installation.
