Summer is coming to a close and it’s the perfect time to tackle home renovations. These are some of the hottest reno projects you’ll want to do this autumn.
In the latest HomeLight Q2 Survey, the best home renovation project you can do to see a return in profit is making a dedicated home office. Although it may take upto $12,000 to complete the project, you can expect an 87% return on investment. Sure, you may not get the full amount back when you sell, but since home offices are on the list of what buyers are looking for, your house may sell a lot faster than if you didn’t have the office.
1. Kitchen remodels
The kitchen is the heart of the house, so it makes perfect sense that people will want a kitchen that is functional and fabulous. Buyers are looking for energy efficient stainless steel appliances, new countertops (granite remains popular, but concrete and marble are good options too), new or refinished cabinets and new hardware. Keep in mind that a fully renovated kitchen can be quite expensive (the average cost hovers around $23,000), you can expect a 77% return.
2. Siding replacement
Over time, vinyl siding on a house can fade and become damaged. The siding can make your house look old, even though it may be in great condition! The project will cost about $17,000 if you have an average, 1,250 square foot home. However, you can expect to see a 77% return on investment. Oh! And this cost includes new trim to help tie it all together.
3. Replacing windows
Replacing windows is a great project to tackle in the fall because when winter comes, it’ll save on your energy bill! You’ll want to get low emissivity, simulated divided light vinyl windows in the color of your choosing (ideally the same color of your exterior trim). The new windows can cost up to $17,000 depending on how many windows you have, but you’ll get a 72% return in addition to the energy savings!
4. Garage door replacements
Replacing the garage door is one of the cheapest renovations that will get you a 94% return when it comes time to sell. The average cost is about $3,600 (including installation and removal of the old door) and you can get back somewhere around $3,400 back. It’s worth noting that any renovations you do outside will boost curb appeal, which attracts more buyers!
5. Manufactured stone veneer
If you have vinyl siding on your home, consider replacing some with a manufactured stone veneer. These veneers look amazing on entry ways because they’ll increase curb appeal and you’ll get a 95% return on investment when you list.
Before you consider tackling expensive home renovations, you need to know what projects are going to be worth the investment if you intend on moving out soon. You don’t want to throw thousands of dollars on customized tile work in the bathroom that may not appeal to most buyers, nor do you want to choose a project that has little to no impact. For example, instead of installing new hardwood or laminate flooring, you choose the cheapest carpet you can find.
Like any other investment, you need to be smart. Do some research and look at what features are most popular among buyers in your area. Consider your options and your budget, too. The cost of materials and labor can vary greatly depending on your location!