Are you thinking of boosting the value of your home?
One of the best ways to do this is by taking on a home improvement project. There are numerous projects to choose from, but here are five projects that can significantly enhance your home's value.
First on the list is a kitchen remodel. As the heart of your home, your kitchen plays a crucial role in its overall value. A minor kitchen remodel can recoup up to 81% of its cost, while a major kitchen remodel can recoup up to 59%, according to a report by Remodeling Magazine.
Another room in the house that can significantly impact its value is the bathroom. An upgraded bathroom can yield a significant return on investment. A midrange bathroom remodel can recoup up to 64% of its cost, while an upscale bathroom remodel can recoup up to 60%.
Your home's exterior is also an essential aspect to consider when looking to boost its value. Replacing your home's siding is one of the best ways to boost its curb appeal and make it more energy-efficient. According to the National Association of Realtors, a new siding job can recoup up to 92.8% of its cost.
Next up is landscaping. An aesthetically pleasing yard is critical when it comes to selling your home. In fact, a professionally landscaped yard can add up to 10% to your home's value, according to a study by the National Association of Realtors.
Lastly, a new roof is another project that can add significant value to your home. Not only does a new roof look great, but it also protects your home from the elements. Remodeling Magazine reports that a new roof can recoup up to 62.9% of its cost.
At Graham Group Denver, we understand the importance of making informed decisions when it comes to buying or selling your home. We're here to help you navigate through the process and provide valuable insights to maximize your home's value. Contact us today to learn more about how we can assist you.
Sources:
"Cost vs. Value 2021" by Remodeling Magazine
"2021 Remodeling Impact Report" by the National Association of Realtors
"Curb Appeal: 10 Ways to Improve Your Home's First Impression" by HGTV
"Top 15 Home Updates That Pay Off" by HGTV