Remodeling projects are meant to improve the comfort, safety, and functionality of a home. Nonetheless, it is the investment aspect of renovation that gets most people excited, as well-executed remodeling projects are sure to increase the resale value of a property. Therefore, for any first-time homebuyers looking for a place to start, the following remodeling projects are the most likely to handsomely increase the value of a house for sale in 2021, as indicated by Remodeling Magazine’s annual Cost vs. Value report.
1. Garage Door Replacement
One of the most straightforward means of increasing the value of a house for sale is to improve the curb appeal. While there are a number of ways to accomplish this, the most lucrative option is to replace a worn and unsightly garage door.
Garage door replacements yield a whopping 93.8% return on investment in 2021. In addition, many garage door replacements can be accomplished in as little as a few hours and for under $5,000, making for an extremely reasonable commitment in terms of time and money. Finally, the vast array of styles, materials, and finishes for custom garage doors allows new homeowners to perfectly match the garage to the exterior of the home. The combination of all of these factors makes a garage door replacement a great place to start when looking into home remodeling projects.
2. Siding Upgrade
Another strong option for increasing a home’s curb appeal is to perform a siding upgrade. However, quality siding offers far more than a pretty appearance, as it provides essential insulative qualities and protection from inclement weather.
When looking at the national averages, manufactured stone veneer yields the highest return on investment, with typical projects adding 92.1% of the project cost to the list price of a house for sale. As most home buyers are likely interested in stone veneer as a rustic accent to a base siding choice, consider pairing it with fiber cement, which returns an impressive 69.4% of project costs in its own right.
3. Minor Kitchen Remodel
As the central hub of the home, everyone gets excited about kitchen remodels. However, as is the case year after year, it is better to keep kitchen renovations modest, with minor projects yielding a 72.2% ROI against the less impressive 53.9% ROI of an upscale remodel.
Those using first-time home buying programs to purchase a home are likely looking for ways to keep the home within their price range, and the cost of an upscale kitchen can tack on an additional $100,000 to the purchase price in some cases. Therefore, simple kitchen projects, such as replacing the countertops with durable materials to reduce cleaning requirements or installing energy-efficient appliances to lower electricity consumption, will be seen as more valuable to new home buyers and entice them to pay for the renovation.
4. Window Replacement
With the push toward sustainability, any renovations that reduce the reliance on electricity will add value to the home. To this effect, one of the most effective remodeling projects to enhance sustainability is to replace the windows, with a basic vinyl window replacement returning 68.6% of a $19,385 project cost in 2021.
New windows can allow for a more uninhibited flow of natural sunlight and provide an insulation upgrade over older windows that have lost their seals or become cracked. To further improve the insulative quality of new windows, consider looking into magnetic storm windows or compression seal inserts, as new homes in Houston, TX will need to be protected against the chance of the strong winds and tempestuous rains of hurricane season.
5. Deck Addition
In the wake of the COVID-19 pandemic, homeowners are more aware than ever of having a backyard that can provide a strong source of entertainment. In this vein, one of the best remodeling projects to start within the backyard is a deck addition, as it yields a national average return of 65.8% in 2021.
The deck is a great vantage point from which to view all of the backyard fun. If looking for additional projects that can further improve the backyard and complement the deck, take a look at adding a stone fire pit, improving the pool deck drainage system, or erecting custom pergolas to provide some shade to the deck or other outdoor areas.
Remodel to Increase Resale Value
Home improvement is a necessary investment, with quality renovations positively impacting the resale value of the property. By considering any of the remodeling projects listed above, first-time homeowners are sure to increase the value of a house for sale.
Skylar Ross is a contributor to the Innovative Building Materials blog. He is a content writer for the construction and home improvement industries with an interest in landscaping, outdoor remodeling, and interior design. Skylar is focused on educating homeowners, contractors, and architects on innovative materials and methods of construction that increase property value, improve sustainability, and create a warm and welcoming ambiance.