Homeowners often take on projects to increase the value of their property. However, with so many home improvements to choose from, many people are unsure which ones they should take on. From cleaning out the gutters to repainting the basement, homeowners may not know what projects will be the most likely to add value to a home.
Redfin recently released the results of a survey of their agents, asking which projects they would suggest to increase the value of a home. Here's the list:
- New front door or garage door
- Renovate the kitchen
- Retile the bathroom
- New windows
- Paint the walls
- Get new hardware
- Service a home's systems
- Clean the appliances
- Get rid of clutter
The fact that Redfin agents cited a front door replacement as their top choice for increasing the value of a home is no surprise. According to the 2014 Cost vs. Value report from Remodeling.com, a steel front door replacement will likely recoup 96.6 percent of the cost of the project, representing a higher percentage than any other home improvement project for a midrange property. The report also showed that a garage door replacement will typically earn 83.7 percent of the costs, and is one of the top improvements for recouping costs.
Here are some other projects on the report that will likely preserve or improve a home's value:
- Deck addition (recoups 87.4 percent of costs)
- Attic bedroom (recoups 84.3 percent of costs)
- Basement remodel (recoups 77.6 percent of costs)
However, not all projects will make a home more valuable. Homeowners will want to be cautious when deciding which improvements to make. While some may be worth the price, others might be a waste of time and money.
According to the report, the projects that recouped the least were a sunroom addition and a home office addition, with 51.7 and 48.9 percent of losses recouped, respectively.
Get a home inspected
Where many individuals only consider getting a home inspection before they move into a place, it can also be a useful tool when deciding which home improvement projects to take on.
From the roof to the foundation, a home inspection will provide a detailed analysis of nearly every aspect of a home. This information can be useful in deciding what areas might need to be fixed versus others that are fine just the way they are.