Remodeling your home, or any home for that matter is a big investment. If you’re remodeling with the intention of selling soon, it’s critical to know where to allocate funds.
You’ll want to put your money in places where you get the highest ROI. Below you’ll discover not only where to remodel, but the hottest trends for 2017.
Attic insulation may not be the sexiest home remodeling trend on this list, but it does have the highest ROI. The average cost for attic insulation in 2017 is $1,343, but its resale value is $1,466. This makes the ROI 107.7%!
It may be shocking, but attic insulation will help keep your wallet warm when selling. If you’re looking to turn up your ROI, you can do it yourself, but read this beforehand.
Major Kitchen Remodel
This year may be the perfect time to remodel your kitchen. It doesn’t have the best ROI on our list (the national average in 2017 to complete this project is $62,158 with a resale value of $40,560 for 65.3% ROI), but it’s quickly moving up.
This means that if you can get it done soon, your ROI can significantly increase. Oh, and pay attention to the color of new appliances!
Entry Door Replacement
Probably one of the easiest on the list, simply replacing your entry door has the second highest ROI. The job costs about $1,413 with a resale value of $1,282, placing its ROI at 90.7%.
The catch: doors need to be steel. This is important because entry doors make first impressions. Wood or any other composite material won’t do.
Need some more space and want to sell your home soon? This project may be just the ticket for you. Again, it’s not the highest on the list, but growth is key, along with asking the right questions.
The national average to complete a two-story addition is $176,108 with a resale value of $125,222 or a 71.1%. But this remodeling project has been on the upswing since 2015, so getting it done now may give you a higher return for when you’re ready to sell.
Manufactured Stone Veneer
While this trend is on a slight decline, it ranks as the third highest remodeling ROI. With a job cost of $7,851 and a resale value of $7,019, it’s an affordable project.
The ROI lies at 89.4%, but why the downturn? Manufactured stone veneer saw a slight price increase in materials, thus contributing to the decline, but if costs go back down, expect this to stay put or even climb higher in value.
Want to geek out some more over the ROI of remodeling ideas? Check out this handy site.