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The Best Investments You Can Make in Your Home
Do you ever sneak a peek at your home’s value on one of those online real estate forums, and wonder what you might be able to do to boost it? Sure, you can add a new bathroom, an upgraded kitchen perhaps, but such major renovations do not always offer the sizable return on your investment you might like.
Often, the best way to boost your home’s value involves a more midrange project, where you can get considerable bang for your buck without breaking the bank or having to take out a home equity loan to get the ball rolling. So, what are some of those relatively small projects that can make major impacts? Every year, Remodeling magazine conducts a study determining which midrange remodeling projects offer the biggest ROIs, and securing the top three spots in 2017 are:
- Attic insulation additions
- Replacement steel entry doors
- Manufactured stone veneers
Let’s take a closer look at how each midrange remodel enhances your home value.
Attic Fiberglass Insulation
Adding insulation to your attic not only makes the existing space more livable, but it also reduces energy bills associated with the entire home. Essentially, the process involves having a professional seal any spots in your attic where air leakage might occur, and then apply fiberglass loose-fill insulation over these areas until an R-value of R-30 insulation is achieved. The R-value of insulation is indicative of its insulative abilities, so the higher the R-value, the greater the thermal performance. Remodeling reports that, by insulating your attic, you can recoup 107.7 percent of the cost of the, on average, $1,343 project.
Replacement Entry Doors
Coming in at number two on the list of the midrange remodeling projects that reap the biggest rewards are replacement entry doors. With an average 2017 cost of about $1,414 a pop, you can make back 90.7 percent of what you spend, recovering as much as $1,282 of your initial investment. You’ll also enjoy increased security and enhanced curb appeal, so even if you aren’t planning to place your home on the market anytime soon, what do you have to lose?
Manufactured Stone Veneers
Rounding out the top three midrange remodel projects offering the biggest ROIs are manufactured stone veneers, which allow you to recoup as much as 89.4 percent of your initial investment. Replacing some portion of your home’s vinyl siding with stone veneers dramatically enhances its exterior aesthetics, and it also offers great bang for the buck. For your $7,851 investment, you can earn back $7,019, so whether you’re looking to get on the market immediately or just improve your home’s appearance in a manner that will almost pay for itself, stone veneers may be the way to go.
Looking to enhance value, curb appeal and security in one step? Call 1.800.360.1788 for more about how to make relatively small improvements to your home that reap major rewards, or check out Remodeling’s 2017 Cost vs. Value report in its entirety here.