When undertaking a renovation project there are two major considerations to keep in mind: 1) is the renovation something you are going to truly enjoy yourself? And 2) Is it something that, perhaps more importantly, whoever ends up buying your home is going to appreciate and be willing to compensate you for. These two questions are both important (together and individually), but it is the second one which, if you know you will be selling your home at some point during the next year, should be of the utmost importance to you.
It has happened to many people: They spend time and money creating something unique in their home that they can’t fathom someone else not enjoying as much as them, only to find out that during the sale of the home that people have widely different tastes, and that cream coloured, 1950s-style kitchen they scrimped and saved for is not worth that much to someone who wants stainless steel everything. Below are the top 5 renovation projects in 2018 in terms of return on investment.
Garage door replacement
Believe it or not, simply replacing the garage door will get you a very impressive 98.3 percent return on investment. This is largely due to the fact that the garage door is a large part of a home’s overall aesthetic appeal and one of the first things people notice when they are interested in buying a house. A new garage door that appears well maintained is something that can increase the value of a home in a big way.
Manufactured stone veneer
A stone veneer adds a level of class and sophistication to a house in a way that many prospective homebuyers are willing to compensate you for. Not to mention the design is timeless. The return on investment for this home renovation in 2018 sits at 97.10 percent.