If you’re a homeowner looking to add value to your property, it’s important to consider which home improvements will offer the best return on investment. While you may be tempted to go for the big-ticket items, like a major kitchen or bathroom renovation, there are other, more cost-effective options that can still yield significant returns.
Here are the top 6 home improvements that can add value to your home, according to industry experts:
Attic insulation (fibreglass): By insulating your attic, you can improve your home’s energy efficiency and recoup over 90% of your investment through energy savings and increased resale value.
Garage door replacement: A new garage door can have a big impact on your home’s curb appeal, and can increase functionality as well. Homeowners can expect to recoup up to 90% of their investment.
Entry door replacement (steel): Upgrading your front door can quickly improve your home’s curb appeal while also reducing heating and cooling costs. With an estimated return on investment of over 80%, this upgrade is definitely worth considering.
Manufactured stone veneer: Adding stone veneer to your home’s exterior can boost curb appeal and add value, with homeowners able to recoup up to 75% of their investment.
Minor kitchen remodel: While a full kitchen renovation can be costly, a minor remodel can still yield significant returns. By investing around $20,000 in mid-range upgrades, homeowners can expect to recoup about 70% of their investment.
Deck addition (wood): Adding a deck to your home can increase outdoor living space and boost resale value. Homeowners can recoup up to 66% of their investment with a wood deck addition.
When considering any home renovation project, it’s important to consult with a professional and obtain necessary work permits to protect your investment. By focusing on these cost-effective upgrades, you can add value to your home without breaking the bank.