When it comes to home improvements, it's important to consider the return on investment (ROI) of each project. Some projects can be expensive, but they can also add significant value to your home. Here are some of the most profitable home improvements that can help you get the most out of your investment. Replacing vinyl siding with stone siding is a great way to improve the exterior and curb appeal of a home.
The average cost estimate takes into account materials such as two waterproof barrier layers and corrosion-resistant slats and fasteners. This project can recover almost all of its cost (just over 91 percent). Adding a touch of class to the bathroom is another great way to increase your home's value. Bathroom additions are usually affordable, and they offer a return of nearly 75 percent of your costs.
A kitchen remodeling project is one of the most valuable home improvements you can make. New kitchens can cover more than 80 percent of initial costs. Building a two-story addition is an expensive project, but it can provide you with an ROI of more than 85 percent and a lot of additional square feet. Plus, you can install energy efficient appliances to save even more money.
Replacing old windows with energy-efficient windows can save you hundreds of dollars each year on your heating and cooling bills. Finishing a 400 to 1,500 square foot basement has a potential ROI of up to 75%. Replacing an existing front door with a steel one has recovered between 65% and 91% in resale in the last four years. Steel doors are energy efficient, low maintenance and cold-locking powers.
If your home is 10 to 15 years old, some expensive items that buyers will have to repair or replace in the next few years could cause them to look elsewhere. Do some repairs now to help you get the best selling price. Toilet technology has improved since 1994, when federal law restricted toilet tanks to 1.6 gallons per flush (GPF). Replacing old toilets with new ones is one of the most cost-effective home improvement projects that can save you money in the long run.
