Renovations that Return the Most
If you are planning on selling, and not sure which renovations have the highest return on investment, here is a short list to review:
Front doors: Whatever the cost, if your front door doesn’t come right out and grab your buyers, don’t even think about it. Know what they say about first impressions? It’s true. Make your front door entrance make your buyers feel like they just arrived at home!
Garage door: Usually your garage door is close to your front door. If they don’t look like they are related, replace it! Your garage door ia one of the best proven home renovations that tell the buyers that they have picked a winner. Most garage door costs recoup 94% of the ROI. Installing a new garage door can be a relatively good investment – costing from $750 to $1,600. Think of it as being a good neighbor – giving buyers the shout-out they are looking for. Hey, Neighbor!
New stone facade: When you put a new stone facade on the front of the house, it is telegraphing to the buyers, “This home is your castle!” Depending on how extensive your facade is (it could run $87,500 to $100,000 for a 2,500-square-foot home,) it says to buyers, this place is rock-solid. The ROI can be as much as 92%.
The Kitchen: You knew the kitchen was coming, so making the look and feel of the heart of the home as new as possible is expected if you are looking to get top dollar. Kitchen renos can have a 72% ROI. Yes, it can be pricey ($25,000-$35,000), but that is exactly the point.
Windows: If you are thinking about selling in the next couple years, don’t wait to replace your old windows! Why? Well, aside from giving you an ROI of about 68%, if you do it a couple years before you plan to sell, you will probably recoup up to 25% or more on your heating costs!
Bathroom renos: A modern sink, mirror, lighting and walk-in shower an be a show-stopper or show-stealer. Bathrooms are important aspect of a home appeal that sweetens the sale. Updated bathrooms can have an ROPI of up to 60% and cost $5,000-$12,000.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency,www.counsellorstitle.net,founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single-family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.
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