Don’t be fooled by all those remodeling shows you see on TV—just because you gut your kitchen or put in a new bathroom doesn’t necessarily mean you’ll see a huge return on your investment when it comes time to sell. These boondoggles can mean you’ll spend tens of thousands of dollars on something that barely registers on buyer’s radar. If you’re really serious about increasing your home’s value through renovation, here are your three best investments:
- Replace your front door. Sounds simple, right? But according to a Wall Street Journal article, installing a new steel entry door can reap a 128% return on investment. Not bad for just over $1,000 out of pocket for you. A new steel door not only adds a ton of curb appeal, it also makes homeowners feel safe and secure in their homes.
- Adding a wooden deck. Who doesn’t enjoy sitting out on the back porch on a sunny day, steaks grilling and beer in hand? Adding a new wooden deck will give you a return of about 80%, making it one of your best buys. Not only will buyers love the addition, but you’ll get to enjoy it, too.
- New vinyl siding. Nothing livens up an old, tired looking home more than fresh siding. It’s a chance to completely change the look and feel of your home, making it look new, clean and bright. New siding can bring in a return of about 80% of your investment.
Looking for something less expensive? Start with the little things, like stripping old wallpaper and trading it in for a new, neutral coat of paint. You’ll be amazed at the difference it can make, instantly updating a room from the past to the present for the cost of a can of paint.
Need more information on increasing the sales value of your home? Call experienced Indianapolis REALTOR® Dan Baldini and his team at Polaris Real Estate. We’ll help you decide where you should spend your money, and how to get top dollar for your home.