Top 4 Home Renovations That Offer The Biggest Return On Investment

When home owners decide to put a little money back into their home, one of the biggest questions is, "Will I get my money back out of this renovation when I sell?".  No one wants to drop a load of money into a home project, only to loose all that money a few years down the road when the home is sold. 

Let's say my wife would love to improve the appearance of our dining room.  Buying a $5,000 Waterford Crystal chandelier would make no sense.  If you decided to sell our home, the Waterford chandelier would add little to no value to our home.  On the other hand, how about we added beautiful crown molding to the ceiling in our dining room for $200.00?  Now that's a renovation worth doing.  As great as my ideas are, my Realtor magazine did an extensive study on hundreds of home renovations and their return value to the home owner.  Here are the top 4 they came up with:

#1  Siding Replacement - 88% Return on Your Investment.  They found that the renovation was fairly inexpensive and really made the home look like new.  Homes with new siding also sold 71% faster which was also added into the equation.

#2  Deck Addition - 85% Return on Your Investment.  As yards get smaller, home owners seem to now value their outdoor areas almost as much as the inside of their home.  Gatherings at each other's home seem to be more in-style also.

#3  Kitchen Remodel - 83% Return on Your Investment.  If remodeling a kitchen wasn't so expensive, this renovation would no doubt be #1.  Remodeling a kitchen can help sell a house as fast as any known renovation but it is an expensive endeavor.  

#4  Window Replacement - 81% Return on Your Investment.  Has anyone noticing those skyrocketing electricity bills?  By the results of this study, home owners have definitely taken notice.  Replacing windows saves tons of energy, improves the visual appeal of your house, and makes for easier cleaning.  This is my personal favorite.  In the past I have had my windows replaced and it was worth every penny.

I hope you like the list above.  I found it interesting and informative to learn what's what in bang for your buck home renovations.  For area happenings in the Beaufort SC real estate market, stay tuned.

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