Many homeowners are looking to refresh their homes to add value but are scrambling with budget for big-tag renovations.
For those looking to stay in their homes or put them on the real estate market for the spring selling season, there are ways to give a property a face-lift for a small cost.
Exterior projects cost more than interior projects. There are little things that can brighten an exterior for a small cost, such as replacing a garage door, which costs about $3500. In comparison to a new backyard patio for $54,000 (national average), it would make for a better choice.
|Project||Cost||Resale value||Cost Recouped|
|Garage door replacement||$3,470||$3,411||98.3%|
|Manufactured stone veneer||$8,221||$7,986||97.1%|
|Deck addition (wood)||$10,950||$9,065||82.8%|
|Minor kitchen remodel||$21,198||$17,193||81.1%|
|Window replacement (vinyl)||$15,955||$11,855||74.3%|
|Universal design bathroom||$16,393||$11,581||70.6%|
|Window replacement (wood)||$19,391||$13,468||69.5%|
The cost of upgrading a home is rising faster than home values. While remodeling is a popular choice for those looking to add value to their home, it isn’t always the smartest. Fixing broken items first is a better solution than redoing an area of a home altogether.
Focus on items that will make the house run smoothly and efficiently first, and then add small, intricate details on the exterior and interior that will turn the house into a home, and turn heads while doing it.
-Allen A Garzone II, Garzone Real Estate, Inc, Boston Real Estate Agent