1. Replace Your Front Door
This might seem like a fairly minor home improvement, but, replacing your front door has been shown time and time again to bring an amazing return. A new steel door averaged a 98% return. When looking at cost versus value, a new door is the top of the list.
Put yourself in the shoes of a potential buyer. You pull up to a house you are interested in. You see the landscape, the trees, the shrubs. All fixable. Then you walk up to the house. The front door is old looking, worn, splintered wood. Your are about to literally walk through the door to your future… do you want it to look old and decrepit?
Now, picture a new, steel door. Nice paint. Strong. Looks safe. Much better. This puts the buyer in a positive state of mind before they even step foot in your home.
A replacement steel door averaged a 98% return on investment – by far the highest return in our historical look at the “Cost vs. Value Report.”
2. Kitchen Remodeling
This project is almost always at the top of the list. Kitchens are often the focal point of a home. Buyers look there first, and often put a lot of emphasis on how the kitchen looks, functions and feels.
Old, outdated appliances and ugly color on the walls turns buyers off. New floors, upgraded counter tops (tile and stone tend to bring the biggest return), along with fresh paint and new plumbing and lighting fixtures can all bring a serious return on your investment and also increases your home’s value.
3. Basement Waterproofing and Finishing
Your basement represents a whole floor of your home. If you have a rancher, you have the potential to turn it into a two-storey home.
But, the area has to be dry and free of mold and water damages if you are going to use it as a living area. This is why basement waterproofing brings such a great return. It gets rid of mold, foundation and wall problems and keeps the area dry. If you are going to store things in your basement or put in furniture, flooring and add rooms, you need the area to be completely dry.
Remodeling your basement is where the biggest bang for your buck comes in, especially if you have a small home. Have a two bedroom, one bathroom home?
You can add an extra bathroom (huge increase in home value), bedrooms, an extra living room, home gym or office, and just about any other room you desire.