To Renovate or Not: Where to Get the Biggest Bang for Your Buck

When it comes to renovating a home, there are generally two mindsets at work. The first is that you want to make your house nicer and more suited to your own style or preferences. But the other one is that you want to make an improvement to your home so that you can recoup your money when you go to resell the house.

Let’s look at the best options you have for improving your property value with renovation projects:

1. Garage Door — If you’ve never replaced your garage door, then it’s an option you should really consider. Most home builders choose a very basic model that has no personality or style to it. It’s just a generic white or off-white door. Instead, consider replacing this with something more sophisticated like a rustic wood garage door or one with window panels to let natural light in.

2. Kitchen Cabinets — Many people want to do a full kitchen remodel with all new cabinetry, custom backsplashes, and top-of-the-line appliances. This is great if you’ve got the money, but it’s not going to give you a lot of return on investment. Instead, leave your cabinets as they are, but replace the cabinet doors. This simple upgrade will give you a chance to do a lot of cosmetic improvements without breaking your bank.

3. Bathroom Upgrade — Another great remodeling option is to redo your bathroom. Overall, this has the potential to actually increase your home’s value by more than you put into it. Replace your current toilet with a low-flow option that will reduce your water usage. You can also enlarge your shower stall, especially if you have a separate tub that you are willing to sacrifice. An extra-large shower with multiple shower heads and a sit-down bench is a great selling point.

4. Wood Deck — Many homeowners are looking for a great house and a great backyard for entertaining. You can meet the needs of this last point with a simple wood deck or patio addition to your home that will end up recouping almost your entire investment. And, as a bonus, you can get lots of use out of it yourself in the meantime before you decide to sell.

5. New Vinyl Siding — One last upgrade that can really help you with the value of your home is the exterior, specifically new vinyl siding. This may not seem particularly spectacular or exciting, but a refreshed exterior with new siding will give your home more curb appeal. This refers to the positive initial impressions you get when someone first pulls up to the house. A home with good curb appeal is well on its way to getting a good asking price on the market.

These five home renovations aren’t the only improvements you can make. But they are five that have the potential to get you the most bang for your buck and will help the most when looking for resale value later on.

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