Regardless of the reason that you are doing a home improvement, the end-most goal remains the same: to get the highest return of investment (ROI).
Make a sound decision by knowing which projects will bring in the best ROI. This year, there is so much interest and focus geared towards the exterior of a home. After all, what potential buyers see on the outside would decide whether they are still interested to see what's inside.
Here are 5 exterior renovations that provide the best return of investment according to Realty Times:
Garage door replacement
Consider replacing your garage door that's already looking beat up as it could make your entire house look bad. Investing on a garage door replacement could promise an ROI of 88.4% while adding a garage door if you don't have one returns at 64.8 percent.
Manufactured stone veneer
By doing a project such as a manufactured stone veneer can dramatically give a house character that will make it a standout among other house on the market. But only few improvements like this can promise a high ROI, and fortunately, stoned veneer is one of them. "It joined Cost vs. Value with a splash, ranking second among all projects with a cost-value return of 92.2%," they said. "The only project that beat it was for a replacement steel entry door."
Steel entry door placement
Topping the Cost vs. Value report for two years straight means that a steel entry door replacement should be on top of your list for exterior renovations. "The cost-value ratio expresses resale value as a percentage of construction cost. When cost and value are equal, the ratio is 100%; when cost is higher than value, the ratio is less than 100%; when value is higher than cost, the ratio exceeds 100%. That means the replacement steel entry door is the only project that, on a national basis, more than pays back its investment in the form of a better home resale price."
Promising an 80.5% return, a deck addition is an outdoor living trend that is winning the hearts of homebuyers. It is a smart choice if you want to sell your home quickly and get some enjoyment out your home while waiting for it to sell.
Vinyl sliding placement
Buyers won't be as attracted to your home if they see a warped, cracked, or peeling siding - it gives the impression that the house is not well taken care of. While getting new siding is a huge investment, you can rely on its high ROI of 80.7% - and that's a good place to put your renovation dollars.