As homeowners in the Southeast look to enhance their living spaces and increase their property value, The Journal of Light Construction’s 2024 Cost vs Value Report unveiled some intriguing insights. Before renovating, explore the top three remodeling projects with a high return for homeowners in our region.
Garage door replacement.
According to the report, replacing your garage door is a practical upgrade and one of the top remodeling projects with a high return on investment. The report shares that, on average, the job cost was about $4,208 with an estimated $7,273 resale value. That’s a $3,065 increase!
Furthermore, a new garage door boosts curb appeal and enhances home security. With various styles and materials, this upgrade can seamlessly blend with your home’s architectural design and provide better insulation, reducing energy bills.
Entry door replacement.
Steel doors are known for their durability and security features, making them a wise investment for homeowners wanting to enhance safety without sacrificing aesthetics. Replacing your entry door with a steel option can also yield a high return. With a relatively low investment of about $2,204 and a resale value of $3,377, that’s $1,173 more for a 53% increase.
Like garage doors, steel doors improve insulation to help with energy efficiency. They’re also low-maintenance and durable.
Manufactured stone veneer.
Next for top remodeling projects with a high return is manufactured stone veneer. Adding this to your home’s exterior can dramatically elevate the aesthetics, creating a touch of elegance. In our region, homeowners can expect to recoup approximately 41% of the initial cost, which can be more than $10,000.
Summary
While those are the top three remodeling projects with promising returns, minor kitchen remodels and fiberglass grand entrances are smart investments in our area. Other home improvement projects Realtors suggest to home sellers include painting the home, a new roof and bathroom updates.
Are you ready to sell your home? Contact Ryan Roberts for expert guidance. For more real estate tips and local market trends, read our blogs.