Hit Two Birds With One Stone With These Stylish Renovations That’ll Also Add Resale Value to Your Home
After living in the same home for years, one may feel the urge to make some design changes or additions to their abode. These can easily get expensive though, discouraging some to abandon their plans altogether.
However, there are actually home renovation projects people can spend their hard-earned cash on and not feel so guilty in the end. These are all listed by Remodeling magazine in their latest Cost vs. Value report.
Best Home Addition
According to the publication, homeowners can get the best bang for their buck by going for some manufactured stone veneer. The fake stone addition reportedly recoups up to 97% of its value every year onward.
Having these installed in one’s home costs about $9,400 on average and impressively recoups $8,900 at sale on average. This is true for most homes across the United States but can be most beneficial for homeowners in areas like the Mountain and Pacific regions where the addition recoups up to a whopping 120% of its initial cost upon sale of the home.
However, those living in states like Kansas, Minnesota, Nebraska, Missouri, and Iowa might want to skip adding stone veneer to their homes as it only recoups about 61% of its cost in these specific areas.
Other Projects to Consider
Aside from this affordable home renovation project, people can also expect an almost-perfect return on their initial investment by adding other features to their property. Another good value-recouping option is adding a new steel garage door. This addition would reportedly nearly pay for itself in the long run, according to the same Remodeling study. The project’s return promises an average of 95% from its original building cost during resale
Homeowners who often use their kitchen might want to consider doing a minor kitchen remodel given the 77.6% return they’ll get for it. This project will set people back an estimated $23,000 but will leave them with an $18,000 value at sale. A remodel can include changes like a new paint job, upgrading to a mid-priced faucet and sink, and adding more resilient flooring.
Ones to Avoid
It might be tempting to splurge on a master suite makeover but Remodeling’s report seems to discourage it. Apparently, master suite additions like an in-room living area cost a whopping $282,000 on average but only recoups a little over half of this initial cost at $145,000. In the end, homeowners may be better off focusing on other areas of their property, which they can improve on to add more value to it.
More in Finance & Business
Anne Hathaway is Selling Her NYC Penthouse for $3.495 Million
The Ocean’s 8 star Anne Hathaway and husband Adam Shulman have listed their Upper West Side penthouse for $3.495 million. Having...March 2, 2020
Big News- Anthony Hopkins List’s his Longtime Residence Malibu Estate for $11.5 Million
Anthony Hopkin, the oscar dinning celebrity, has now recently listed his 4000 square foot longtime residence, which he bought back in...February 28, 2020
This Town in California is the Richest Place in America in 2019
Tech billionaires like the late Microsoft co-founder Paul Allen, former Google CEO Eric Schmidt, and Facebook COO Sheryl Sandberg call this...February 28, 2020
Check Out These Holiday Attractions of the British Royal family
It is tough even to consider that the royal family of Britain would ever desire to leave their lavish homes besides...February 27, 2020
Go Big or Go Home: The Most Expensive Houses in the United States
The US is home to some of the biggest and most extravagant houses all over the world. The average value of...February 27, 2020
The Real Cost of Going to Super Bowl
Super bowl is the game everyone always has their eyes set on. This year Super Bowl LIV happened on 2nd February...February 27, 2020
Most Exuberant Features of Celebrity Homes
They say a person’s surroundings is a reflection of themselves. Well, these Hollywood celebrities took this way too seriously with their...February 26, 2020
8 of the Most Unique Features of Celebrity Homes
From actors to musicians, athletes to businessmen—celebrities and the elite get to live the most luxurious lives. Aside from owning a...February 26, 2020
Leaving Malibu for Central Los Angeles, Sir Anthony Hopkins Lists Oceanside Home for $11.5M
Award-winning actor Sir Anthony Hopkins, who recently starred in the movie The Two Popes, is giving up his oceanside Malibu property...February 24, 2020