New Improvements Add Value

Posted by Tom Shearer on Thursday, September 1st, 2016 at 3:10pm

Homeowners often customize their home for personal enjoyment and to appeal to future buyers. So, we ask, which remodelling projects add the most value? 

Regular and systematic home maintenance provides the best return on investment. Although, there are a few renovations that consistently offer above average return. 

According to the Remodeling 2016 Cost versus Value Report, the following are among the mid-range renovations that homeowners who are looking to sell may wish to consider. To protect your investment, be sure to obtain work permits and consult a professional before embarking on any project where maximum return on your investment is sought.

1. Attic fibreglass insulation Recoup more than 90 per cent of the costs based on immediate energy savings and your home's future resale value.

2. Garage door replacement Maximum impact on curb appeal and increase functionality. Recoup up to 90 per cent of your investment.

3. Steel entry door replacement Quickly improve the curb appeal of your home while reducing heating and cooling costs. Estimated return on investment is more than 80 per cent.

4. Manufactured stone veneer Add curb appeal to the exterior of your home, or to accent specific areas within the home. Recoup up to 75 per cent of your investment.

5. Minor kitchen remodel Based on an investment of $20,000, expect to recoup about 70 per cent.

6. Wooden Deck addition Add a deck to increase outdoor living space and recoup up to 66 per cent of your investment.

 

The more you align the features and attributes of your home with those preferred by consumers, the greater the value you will create. 

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