Some home renovation projects offer more value to the resale value of your home than others. In many cases, we are more concerned with the real cash cost to do the remodelling project.
With a limited amount of money we can spend on our home, here is a look at some remodelling/renovation projects that help you get the most out of the money you are putting into your home.
New front doors.
Front doors have a real psychological impact on the value of your home. Choosing the right door is crucial. Steel entry doors add a real sense of security and value. Home owners recoup about 96% of the investment cost in the value of their home.
Wood deck installation.
The average wood deck costs around $8,000 to $10,000. According to recent reports, home owners get about 90% of this investment as value to their home. Remember, you might need a permit for this project.
Attic bedroom or office.
Most attics are dead space. Converting your attic to a bedroom or office often returns more than building an extra room onto your home. Reports suggest this renovation returns about 85% of the money spent on home value.
Garage door upgrade.
A new garage door might only return about 80% of the cost in real value but will add a huge amount of "curb appeal" to your home. The average garage door upgrade only costs around $1,500.
Minor kitchen remodel.
Kitchen remodelling/renovation projects can easily spiral into many more thousands than you first intend. It is important you have the right professionals on hand who understand how to make a minor remodel and get the most out of your dollars. The average minor remodel - replacing cabinet doors, appliances, countertops, sinks, faucets, paint and hardware - costs around $20,000. The average return on investment is said to be around 82% but adds a lot to ease of selling your home.
It is important to remember that many projects only add a similar value as invested. However, selling your home will be much easier. The real value added is hard to estimate until your home is actually sold.
It is much easier to add value to your home through proper maintenance programs. C4U Inspections specialises in home wealth programs that generate value in your home by creating a record of your home maintenance and repairs through certified inspection.
I'm Lloyd Kenzle, chief inspector at C4U Home Inspections. I'd seriously like you to consider what I'm telling you here. Our certified home maintenance inspection is worth more than $250. You just can't lose at only $250 per year for a full home maintenance inspection and tailored home maintenance schedule. You don't have to be rich to be involved in home wealth generation. It's for everyone.
Need more information and have questions? Contact C4U Inspections today
*Lloyd doesn't break the rules for anyone and as a leading chief home inspector in BC, that means he follows industry requirements, government regulations and licensing codes of conduct to the letter.
Unbiased, ethical and professional home inspection and building consulation services.