Giving your home some upgrades is a necessary part of making sure it’s ready for the market. When deciding which projects to do, you should focus on which ones will give you a high return on investment (ROI). This will help you recoup a significant amount of the cost of each project.
These are a couple of the highest ROI projects for your home:
- Getting a new front door. Replacing your current entry door and jams with one that’s made of 20-gauge steel is a moderately priced project with a very high ROI. You’ll spend a little over $1,000, but you’ll recoup about 96 percent of that cost.
- Getting new siding. This will cost you more upfront, but you’ll get a lot of the money back. Replacing your siding with fiber-cement siding that’s factory primed and painted will cost more than $13,000, but you’ll get about 87 percent of the cost back.
What should you avoid? The project with the lowest ROI is home office remodeling. This costs about $28,000, and you’ll only get about 48 percent of that back.