Adding to the market value of your house is easier said than done. You can invest thousands of dollars on a home improvement project, wait for months for it to be completed only to learn that it has already gone out of style and is adversely affecting your home’s market value.
Instead, we’ve compiled a list of home renovation projects that promise high return on investment. Pick any of the projects in the list below and the market value of your house is bound to rise.
An Outdoor Pool:
Let’s begin the list by addressing the elephant in the room: an outdoor pool. When most people hear the phrase ‘exterior home improvement project’ they often think of getting an outdoor pool, which is also the reason why it’s one of the most popular home improvement projects.
However, despite their immense popularity, it turns out that an outdoor pool isn’t as profitable as you might think. If the numbers posted by inman.com are to be believed, then outdoor pools only promise a return on investment of 7%. This makes them by far the worst option on this list and which is why you should look at other avenues if you want to raise the value of your house.
New Garage Door:
While it may not be as fancy as an outdoor pool, a new garage door can do wonders for the market value of your house. Since homebuyers in America value practicality and functionality above everything else, it’s no wonder that an easy to operate garage door is in high demand.
It’s because of these reasons that Remodeling Magazine claims that a new garage door is a great way to increase the value of your home as you can expect a return on investment of around 85%!
Often people don’t think much about the landscape of their house. To most Americans, it’s just a backdrop for some family portraits. As things turn out, however, an improved landscape works even better than a garage door, as far as the market value of your house is concerned!
According to a National Association of Realtors survey in 2016, an improved landscape promises an impressive return on investment of 105%! A lot of this has to do with the fact that an optimized landscape includes strategically placed trees that provide shade and help lower the energy bills.
As impressive as the numbers that landscaping projects boast about, they pale in comparison with those of an outdoor kitchen. Inman.com claims that an outdoor kitchen counts as an additional room in the house and massively bumps the market value of your house.
Furthermore, given how much Americans love to barbeque, the outdoor kitchen offers you all the tools you need to grill the burgers and serve your guests.
It’s because of these reasons and many others that outdoor kitchens promise a staggering return in investment of 100 to 200%, making them by far the most profitable home improvement project you could opt for!
If you feel that your house is in need of a makeover, we at Garden State Brickface and Siding would love to be of assistance. While we don’t do landscaping, or offer outdoor kitchens, we have more than 60 years of experience in the business of remodeling the exterior of homes in New Jersey and New York. We specialize in the design and installation of stone veneers, brickface, vinyl siding, stucco and hardcoat exteriors as well as energy-efficient replacement windows. We’re here to give your house a much-needed facelift!