The holidays are getting closer and for many people this year, that means a holiday season at home. As you celebrate in your own respective ways, here a couple of home improvement projects to consider that yield high returns* in Austin.
*All return on investment estimates based on the 2020 Hanley Wood Media Inc remodeling statistics
1. Add Stone Veneer to Exterior ~ 135.3% ROI
Stone veneer on the front of a house tends to attract more buyers than an all-vinyl-siding house exterior.
Recommended Upgrade: Remove existing vinyl siding from the bottom third of the street-facing façade and replace it with manufactured stone veneer.
2. Garage Door Replacement ~ 108.5% ROI
A new garage door can boost your home’s curb appeal while also being a functional upgrade.
Recommended Upgrade: Replace existing garage door and tracks with a steel garage door on heavy-duty steel tracks.
3. Replace Roof ~ 85.8% ROI
A roof can last anywhere from 15 – 50 years depending on the material. The most common type, asphalt shingle, lasts around 20 years. A new roof is a huge plus for buyers and a worthwhile project if it’s needed!
Recommended Upgrade: Remove existing roofing and install new fiberglass asphalt shingles.
4. Minor Kitchen Remodel ~ 78.5% ROI
If you’ve got a great kitchen layout but things are feeling a little lackluster, consider a cosmetic remodel to get the best ROI.
Recommended Upgrade: Replace fronts of cabinets with shaker-style wood panels and new, modern hardware. Replace cooktop/oven and refrigerator with stainless steel energy-efficient models. Replace laminate countertops with granite or quartz; install mid-priced sink and faucet. Add new resilient flooring and finish with fresh paint.
5. Wood Deck ~ 77.4% ROI
Outdoor living spaces are always in high demand and are especially trending this year.
Recommended Upgrade: Add a 16×20-foot wood deck and provide a complete railing system.
6. Window Replacement ~76.5% ROI
Not only will energy-efficient windows lower your utility bills, but they’re a big ‘check in the box’ for new home buyers.
Recommended Upgrade: Replace existing windows with insulated, dual-pane energy-efficient windows and new trim.
7. Master Suite Addition ~ 75.9% ROI
If you have attic access, it’s worth finding out if it has any buildable space for an additional bedroom or living area. With demand for multi-generational homes on the rise, having two master suites is an advantage.
Recommended Upgrade: Add master bedroom suite over crawlspace. Include walk-in closet, freestanding tub, shower, and double-bowl vanity with stone countertops. Carpet the bedroom floor; put tile in bath. Paint and install lighting.
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September 29, 2020