If you’ve been dreaming of remodeling your kitchen or making over your backyard for years, it may be time to finally do it! Just be sure that the changes you make will increase the value of your home once you go to sell. Here is a list of home improvements that pay off.
Fresh Paint
The expense of painting interior walls is less than any other home upgrade. If you hire a professional to do the work, expect to pay $3,600 to $6,000 for the interior of a 2,400-square-foot home. If you’re just painting accent walls, expect to pay anywhere from $1.50 to $2.50 per square foot. You can take your home from drab to fab with little investment.
Kitchen Updates
It’s hard to go wrong with remodeling or updating your kitchen. A minor kitchen remodel consists of:
- Refacing existing cabinets
- Replacing cooktop/oven range and slide-in refrigerator with energy-efficient models
- Replacing laminate countertops
- Installing a mid-priced sink and faucet
- Adding new resilient flooring
- Painted walls, trim, and ceiling
Upgrading these features can net up to nearly 55 percent of the cost.
Keep kitchen renovations in check with the rest of the home. If you don’t plan to upgrade wood paneling in the living room, you won’t get a good return on a fully loaded commercial-grade gas range in the kitchen.
Bathroom Upgrades
Bathroom upgrades, like updated countertops and new fixtures, provide anywhere from 41 to 48 percent return, so there is no need to splurge on fancy fixtures. A tub is a tub – and upgrading to something like a jacuzzi will likely break a sale before it makes one; most folks don’t want to mess with it. Keep upgrades classic so that they appeal to both traditional and contemporary tastes.
Window Replacement
Old windows are most likely costing you more money than you know. Not only are you losing precious heat and air, but your monthly utility bill reflects the cost of the draft. Not only will the utility savings pay off over time, but you will also get about a 48.5 percent return on the investment when it’s time to sell.
Garage Door Replacement
According to the 2022 Cost vs. Value Report for the San Antonio area, including New Braunfels and Seguin, the average cost of a new garage door is $3,393 to $3,972, and the resale value is $3,197 to $3,743. That is a 94% return!
Fresh Vaneer or Siding
The average cost to upgrade your exterior to manufactured stone veneer is approximately $9,000 to $10,500, with an average added sale value of $8,000 to $9,300—nearly an 88% percent return on investment.
Entry Door Replacement
Upgrading to a steel entry door will not only provide added security to your home, but it carries nearly a 70 percent return on the initial investment.
Back Deck
A new deck will provide you with more than a place to flip burgers and watch the sunset. Buyers see a well-maintained deck as a pleasant transition from inside to a dedicated outdoor space. In 2022 new wooden decks carry about a 54 percent return on the initial investment due to lumber shortages and shipping delays. In the past, a new deck had an impressive 72 percent return on its cost. There is a strong likelihood that the return on a new deck will increase as the effects of the pandemic begin to wane.
Swimming Pool
When summer lasts five or six months and temperatures are 100 degrees or higher for several days in a row, relaxing in a pool in your backyard is the only way to enjoy being outside. While it will increase the value of your home in a climate like Texas, the cost of maintaining a pool is something you need to consider before taking the plunge.
While upgrades and improvements are significant investments you hope to see a return on, they will never wholly pay for themselves. Create a space you love and enjoy living in, and look at the opportunity to increase the value of your home as a bonus.
If you have questions about buying or selling your home, I’d love to help! Contact me at krista@bloomrealtytx.com or (830) 305-5248, and we’ll schedule a meeting time.
