July 2, 2015
Best Remodeling Projects To Boost Resale Value
If selling your home is in your future then summer is a popular time to do some updating. However, not all renovations are created equal when it comes to getting a good return on your investment. The folks a Remodeling conduct extensive annual research by region to determine what is the best project for the money. And we’ve uncovered a few low cost DIY ideas to get your house ready to sell.
The top five projects for value
According to their most recent research, the top five projects for value at resale in the Minneapolis market include:
- Wood window replacement, averaging 105.8% return on investment
- Entry door replacement (steel), 104.6%
- Stone veneer accent, 86.8%
- Attic bedroom remodel, 75.9%
- Minor kitchen remodel, 74.9%
The report also states that a full kitchen remodel has a return of 68% and a full bathroom remodel nets a 65% return on investment at resale.
When it comes to renovation it’s always best to hire a professional contractor for bigger, more complex projects. One of the best ways to reduce the costs of a project is to do as much prep or finish work yourself. Doing your own demolition, insulation, sanding, painting or daily clean up will save money. Just be sure to partner with your contractor and agree upfront on what parts of the project you will take on.
Simple DIY fixes
If full scale remodeling is not in your budget consider a few of these simple updates.
Indoor ideas:
Remove old wallpaper
Refresh paint on the walls and front door
Fixture updates like cabinet pulls, light fixtures and faucets
Declutter and organize closets and storage areas
Outdoor ideas:
Lawn and garden – pull weeds, trim bushes, rake debris and remove any dying vegetation
Wash doors, windows and screens
Wash easily visible mold on siding
Scrape and repaint visible peeling or faded spots on wood siding and trim
All the cleaning, painting and sprucing up that you do will increase your home’s curb appeal and boost resale value.
Another great way to keep your costs down is shopping at a Habitat For Humanity’s ReStore. They operate about 400 ReStores nationwide, which offer salvaged materials at half off home–center prices. Experts also advise not to relocate any major plumbing related items such as a sink or toilet. The plumbing costs can really add up.
What kind of remodeling project will you be tackling this summer? Share your plans in the comments.