3 Home Improvements with The Best Return on Investment
For St. Louis area homeowners that are planning to invest in their home through home improvements, it is good to know which improvements are worth the investment. The thing about real estate is, it is local. Home improvements that have a good return in California may not get the same return on investment in St. Louis. So here is a list of the top three home improvements based on return on investment in the St. Louis market.
- Attic Insulation
While you can’t see the insulation in your attic, this home improvement will recoup the most cost when a homeowner sells a home. In fact, attic insulation is the number one cost to value home improvement in the Midwest and nationwide. While you can’t see the benefit, you can feel it. It will help keep the home warm in winter and cool in summer and may even lower utility bills.
- Minor Kitchen Remodel
What exactly is a minor kitchen remodel? A minor remodel includes changing the cabinet doors and pulls, switching appliances to energy efficient models, replacing laminate countertops, adding a new sink and faucet, updating flooring and painting walls and trim. In our region, homeowners can expect to recoup about 75% of the cost of this improvement when it is time to sell.
- Entry Doors
The doors we use to enter and exit our homes take a lot of abuse. On one side they face room temperature while on the other they face the ever-changing elements. Add constant wear and tear and you’ve got one of the next best items to improve in your home. Replacing entry doors with fiberglass or steel doors will recoup almost three quarters of the cost when the home is sold.
Other home improvements that have a good return on investment include: new windows, new siding and garage door replacement. Home improvements that are sometimes necessary but don’t have as good of a return on investment include bathroom additions and deck or patio additions. See the full set of data for 2017 remodeling cost v. value put out by Remodeling Magazine by clicking here.
The great thing about owning your own home is that you can choose the projects you want to invest in despite what gives you the best return on investment. But homeowners thinking of selling a home in the near future should be aware of the cost of the project versus the return they’ll get from the sale.
When it comes time to sell a St. Louis area home, contact Kelly Shaw Team. Kelly and her team have a combined experience of more than 20 years selling homes in St. Louis and the surrounding area. Working with a team means you’ll always have someone available to answer your questions and assist with whatever you need to make for a smooth home sale. Thinking of selling a home? Contact the Kelly Shaw Team.
Share This Post