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Home Improvement – Biggest Bang For Your Buck
What single home improvement will give you the biggest bang for your buck? Like most homeowners, you probably have a laundry list of updates you’d like to make to your home. The question is which one will retain its value and even provide the most return on your investment?
- Steel Entry Door Replacement: ROI = 101.8%
- Backyard Deck: ROI = 75.6%
- Attic Conversions: ROI = 77.2%
- Garage Door Replacement: ROI = 97.5%
- Fiber Cement Siding: ROI = 84.3%
- Replacing Windows: ROI = 78.8%
- Vinyl Siding: ROI = 77%
- Kitchen Remodel: ROI = 80.5%
According to Than Merrill, co-founder of FortuneBuilders, CT Homes, and Equity Street Capital “It is entirely possible to lose money by making the wrong upgrades. Some projects simply don’t warrant the initial cost. (This can even extend to alternative types of investing, such as tax lien investing). Conversely, there are projects that separate themselves from the rest, and actually return more profit when it comes time to sell. The real trick is to focus on the projects that don’t coincide with such drastic highs and lows—the ones with consistent ROI.
Not surprisingly, it seems that Iron Entry Doors are a sound investment in beautifying your home and making the right speeding decision at the same time. This just reinforces how important curb appeal is for ROI.
As visitors enter, the front door serves as the transition into your home and is part of their first impression. You don’t want it too shabby or out of sync with the architecture of the home. Nothing has proven to be a better return on investment than the right kind of front door replacement.
In fact, iron/steel entry doors have been known to return approximately 101.8 percent of their initial investment upon resale. That means you’ll actually get more back than you spent on the door itself when the time comes to sell.
High-quality steel doors also prevent leaks and boost the insulation of your home. Decorative flourishes, such as sidelights and a transom window, will add more to the project cost, though they can be worth the splurge given the added curb appeal and ROI they’ll deliver.
“It gives you the best bang for your buck in terms of transforming the look and feel of your home,” says Brandon Erdmann, president of the remodeling firm HomeSealed. “Plus, old exterior doors can be a huge source of energy loss. So you’re improving the look of your house, improving energy efficiency, and you’re able to do it without breaking the bank.”
And as long as we’re talking about home improvement projects, here’s a list of 30 DIY Tips for Increasing Your Home’s Value that won’t break the bank.
Let First Impression Ironworks help you design an Iron Entry Door that fits your home’s style and your budget. Call us today or browse our Gallery here.