Homeowners who want to maximize the appraisal value of their home should think about outside space. Renovating kitchens and bathrooms do improve values, but curb appeal and outdoor spaces are extremely important too. Clayton DeKorne, chief editor of the JLC Group, (Journal of Light Construction) has four recommendations for outdoor upgrades to help maximize your home’s value:
Garage door replacement
Average cost: $3,611 - Average resale value: $3,520 - Cost recouped: 97.5 percent
A good-looking garage door tops the list when it comes to getting cash back on your investment when you decide to sell your house, according to the 2019 Cost vs. Value report. The estimate for this job is based on the cost of removing and disposing of an existing 16-by-7-foot garage door (or two-car garage door) and replacing it with a new four-section garage door with heavy-duty galvanized steel tracks, assuming the motorized garage door opener is compatible. This curb-appeal enhancer will get you back almost every dollar you spent on it when you sell your house.
Manufactured stone veneer
Average cost: $8,907 - Average resale value: $8,449 - Cost recouped: 94.9 percent
Replacing vinyl siding with stone veneer on part of your home, such as an entryway, is a big curb-appeal upgrade for your home. For this project, existing vinyl siding is replaced with adhered manufactured stone veneer. This average cost estimate is based on installing 36 linear feet (LF) of sills, 40 LF of corners and one address block, with materials including two layers of a water-resistant barrier, corrosion-resistant lath and fasteners and more. This cosmetic improvement and accent design element can catch the eye of a potential buyer and can allow you to recoup an estimated 95 percent of renovation costs.
Deck addition
Average cost: $13,333 - Average resale value: $10,083 - Cost recouped: 75.6 percent
If you own a house with a big yard, a wooden deck can be an extra enhancement to enjoy the outdoors around your home. The average cost of adding a new wooden deck (estimated based on a 16-by-20-foot deck, including a railing system with pressure-treated wood posts, railings and balusters) is approximately $13,333.
Siding replacement
Average cost: $16,036 - Average resale value: $12,119 - Cost recouped: 75.6 percent
Old, dilapidated siding can make even the nicest house look worn-out. For the average home, replacing 1,250 square feet of old siding will cost you just over $16,000 and you’ll get back roughly three-quarters of that investment upon resale.
Source: https://www.jlconline.com/how-to/exteriors
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