By George DeMare, Vice President Business Development
Thinking about adding some value and style to your home this summer? Completing some of these top-ranked home renovations will get you the most return on investment at resale.
Average return at resale: 102%
Even a minor bathroom update can see a high return on investment. Reglazing an old tub, removing dated hardware or wall coverings, adding new caulk, and a fresh coat of paint instantly adds increased value to a home. Replace an old vanity with a pedestal sink or put in new countertops for a clean, fresh look.
Average resale return: 100%
A splash of color at the front of any house is always eye-catching. For a dramatic effect, use a variety of plants at different heights around the home. Replace overgrown shrubbery with flowering foundation plants. A charming focal point like a walkway or fountain can also add major value to a property.
Average resale return: 98.5%
Brighten up the kitchen by sanding and painting existing cabinets – which is much less expensive than buying new ones. Add decorator detail without the cost by changing drapes and window molding. Stick with neutral colors for walls and window treatments. Check out your local granite dealers for less expensive remnants or even free remnants that you can have cut and installed at a bargain.
Average resale return: 95.5%
Vinyl siding has an average return rate of 95.5% while upscale fiber-cement siding has an even better recoup rate of 103.6%. Comparatively, a gallon of paint can only cover 400 square feet of a house.
Average resale return: 90.1%
Always fix flooding problems first. Test to make sure solutions work before investing time or materials in a basement.