Which Home Remodeling Projects Have the Best Returns?

Homes for Sale in Charlotte NC

Are you thinking of doing home improvement projects to add value to your home?

Renovating and improving your home can be an excellent way to give it a makeover. A few upgrades can also increase your chances when you want or need to sell your Charlotte NC home.

However, not all home improvements will reward you when the time comes to sell. Some will increase the value of your home, and some will actually make selling more difficult. Choose the projects that have the best financial impacts.

 

Here are the best six home remodeling projects that deliver the highest return:

1. Upgraded Landscaping

Most people would expect a major kitchen renovation to be on the top of this list.

However, if your outdoor living areas need a new look, a little upgrade can do wonders to your current landscape. Remember that a well landscaped yard is essential to adding to a home’s curb appeal.

Buyers looking for homes for sale in Charlotte will be more excited to tour a home that looks inviting on the outside.

What does a basic landscaping upgrade include?

Flowering shrubs

A 15-foot-tall deciduous tree

A flagstone walkway

Two 6-by-2 stone planters

Fresh mulch

The cost: $4,750

The return: 105% at $5,000

 

2. New Roof

Updating your home’s roof gives you the opportunity to cut cooling costs while improving curb appeal and resale value.

Roofs do need replacing eventually. If you fail to do so, the results could be very costly, including ruined walls, mold, and mildew stains.

If you notice that shingles are missing, curling up, or covered in moss, and gritty bits from the asphalt shingles are coming out the downspout, then it’s time to give your home a new roof.

The cost: $7,600

The return: 105% at $8,000

 

3. Hardwood Floors

You can’t go wrong if you’re thinking of putting in wood floors. Hardwood floors are a timeless classic. They have unmatched natural beauty and go with any decor, be it modern, traditional, or country.

Hardwood flooring goes in any room. However, kitchens and basements may warrant special considerations.

The cost to refinish: $2,500

The return: 100% at $2,500

The cost to buy new: $5,500

The return: 91% at $5,000

 

4. A Patio or Deck

A nice patio or deck is a worthwhile investment because outdoor living spaces have become more desirable. When you decide to sell, your home will be more appealing to prospective buyers looking for Charlotte NC homes for sale.

The cost of a patio: $6,400

The return: 102% at $6525

The cost of a deck: $9,450

The return: 106% at $10,000

 

5. Energy- Efficient Insulation

If your home hasn’t been modified with energy efficiency in mind, it will cost more to live in your home and maintain it.

Updating your insulation can make your home more appealing to potential buyers. Don’t wait until you’re forced to wear your parka indoors.

The cost: $2,100

The return: 95% at $2,000 plus the added savings on heating and cooling costs

 

6.  New Garage Door

Aside from boosting your home’s value, a new garage door also improves the safety of your home. A new garage door means it’s using newer technology.

It also helps in improving your curbside appeal. There are also many options to choose from-  a host of factory-finish colors, wood-look embossed steel, and glass window insets.

The cost: $2,300 (for a two-door)

The return: 87% at $2,000

 

If you would like to learn more tips about improving your home’s value, or would like to see homes for sale in Charlotte North Carolina, visit my website at http://ShowcaseRealty.net

Call me, Nancy Braun, at (704) 997-3794. Contact me today for all your real estate needs.

 

Source: The National Association of REALTORS®’ 2015 Remodeling Impact Report and 2016 Remodeling Impact Report: Outdoor Features

Share This!

FacebookTwitterGoogleLinkedInPinterest


Click Here to Leave a Comment Below

Leave a Reply: