Cost Effective Home Improvement Tips
By Stephanie Scott
eady to start on home upgrades, but unsure where to start? Consider projects that not only add value to your family, but to the resale value of your home. Here’s a look at the upgrades that will add the most value to your home, according to Remodeling Magazine’s 2021 Cost vs. Value report.
Give Your Kitchen an Upgrade
“The kitchen is the number one room that homeowners want to remodel,” said builder and remodeler Chad Scott. “It’s the heart of the home and where most of life and entertaining happens – so that’s an area you want to be happy with.”
Kitchen updates make a major difference in home resale value and offer a high return on investment. According to 2021 data, the average cost of a minor kitchen remodel is $26,214, and homeowners can expect to recoup 72.2 percent of this — to the tune of $18,927, on average.
A kitchen update doesn’t always mean an entire overhaul; some items to consider are replacing cabinet and drawer fronts, installing new hardware, new countertops, new flooring and a new sink and faucet, installing backsplash, painting the walls, trim and ceiling and upgrading your appliances.
Exterior Elements that Matter
Changing the exterior look of your home makes an immediate impact. Outdoor appeal matters for homebuyers – and improvements to the exterior give you a house you love to drive home to – and one that does well in the resale market.
“I advise people to keep the trendy updates to smaller details and focus on outdoor improvements that are high-quality and will withstand the always changing home trend market,” Scott said.
Upgrading the siding is the first step that many homeowners take – and for good reason.
The average national cost to replace fiber-cement siding is $19,626 and homeowners can recoup $13,618 (69.4 percent) of that cost. Vinyl replacement costs clock in at a national average of $16,576 with a recoup value of 68.3 percent the total cost, or $11,315.
Home improvements are not a small decision – so it’s important to choose projects that will not only improve your life but add enough value to your home to make it worth the expense.