5 Renovations that Bring a Value Increase Email
That Marketing Blueprint: April
H.O.M.E.S. Marketing: Email
April Showers Bring May Flowers – 5 Renovations that Bring a Value Increase
Are you looking to add value to your home this spring? Renovations are a great way to increase the value of your property, as well as make your home more enjoyable to live in. While you may be leery of putting more money into your home if you are considering selling, these value increases make your home more attractive to buyers in the market. This could mean a quicker sale for a higher dollar amount which is important in this shifting market. Here are 5 renovations that can help add value to your home.
Creating an Outdoor Living Space
- Average cost in 2022: $3,369
- Average resale value in 2022: $3,563
- Cost recouped: 109%*
If you have an outdoor area, consider transforming it into a comfortable living space. Add a deck, patio, or pergola and add some outdoor furniture and plants to make it a relaxing and inviting area for you and potential buyers.
Garage Door Replacement
- Average cost in 2022: $4,041
- Average resale value in 2022: $3,769
- Cost recouped: 93.3%**
Replacing your old and worn-out garage door with a newer, sturdier one can not only add to the aesthetics of your home but also increases your home’s value. Upgrading to a higher-end garage door will help you get more for your home when you decide to sell.
Adding Stone Veneer
- Average cost in 2022: $11,066
- Average resale value in 2022: $10,109
- Cost recouped: 91.4%**
Adding stone veneer to the exterior of your home brings a touch of elegance that can increase the overall value of your home. It’s an affordable way to make your home stand out from the rest and will make potential buyers more interested.
Minor Kitchen Remodel
- Average cost in 2022: $28,279
- Average resale value in 2022: $20,125
- Cost recouped: 71.2% **
Kitchen remodels are always a great way to increase your home’s value because they are the heart of a home. You don’t have to break the bank to give your kitchen a makeover. Simple changes like replacing outdated appliances, painting the cabinets, and installing new countertops can make a big difference in the look and feel of your kitchen.
- Average cost in 2022: $20,482
- Average resale value in 2022: $13,822
- Cost recouped: 67.5%**
Old, drafty windows can be a huge turn-off to buyers. Installing new windows will not only improve the look and feel of your home but also make it more energy efficient. This can help save you money on your energy bills and can help make your home more valuable when you decide to sell.
By investing in these renovations, you can make your home more valuable and desirable to potential buyers.
*According to a HomeLight survey of top agents
**According to the 2022 Cost vs. Value report