Sometimes the best curb appeal upgrades are the simplest. But for the most bang for your buck, you can't beat a new set of garage doors. Spending about $1,500 on a midrange replacement will return 83.7% on your investment, and an upscale model costing about $2,800 will return 82.9% of the cost.
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- Worth It: 8 Renovations That Pay You Back
Worth It: 8 Renovations That Pay You Back
Enjoy A New Deck
Choosing a renovation you're actually going to enjoy is as important as a good return on your investment. That's what makes a new wood deck such a great choice. It returns 87.4% of the investment on a mid-range project costing about $9,500. And until the day that you sell, it will offer a place for relaxation and fun.
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All Around the House
No doubt about it—replacing exterior siding gives your home a major facelift, but it also generates a strong return on your investment. The most cost-effective option is fiber-cement, with a whopping 87% return on your project costs of about $13,378. Vinyl siding isn't a bad option either; it returns about 78% of the investment.
The popularity of attic conversions is on the rise, and for good reason: Adding an extra bedroom upstairs gives you additional living space without increasing the overall footprint of a home. An attic bedroom remodel is an investment that returns 84.3%, with an average remodeling cost of $49,438.
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Update Your Kitchen
Perennially topping the charts of popular remodeling projects? The kitchen, of course. But no need to give yours a complete overhaul in order to add value to your home. In fact, smaller kitchen remodels—upgrading the counters, cabinets, and appliances at about $18,856—return 82.7% of the cost. A big-ticket, upscale kitchen remodel is nice, but at an average of $109,935, it returns only 63.6% of the cost.
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There are plenty of reasons to replace your old windows. Today's options are more energy-efficient, saving you money on your heating and cooling bills. They also come in a array of convenient options that make open, closing, and cleaning much easier. And good windows add value to your home. Mid-range wood windows return 79.3% on an average cost of $10,926 and mid-range vinyl replacements return 78.7% on an average cost of $9,978.
Remodeling the basement is another great way to add living space to the home without embarking upon a full-scale addition. Transforming yours into finished space—for instance, adding insulation, flooring, walls and ceiling—earns a 77.6% cost-to-value ratio, with the average remodeling cost weighing in at $62,834.
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Having A Backup Plan
A rather unexpected—but welcome—addition is a backup power generator. The growing popularity of this relatively inexpensive home addition may be due to the unpredictable weather of the past few years. With an average cost of $11,742, adding a backup generator is a project with a 67.5% return on investment.