With all the benefits you can get out of a home improvement investment, you also want to ensure you’re getting the most value for your money. You want to take on remodeling projects that have a high ROI and add value to your home. What are home-buyers most willing to pay for in Minnesota or Wisconsin? We broke things down by the numbers, so you can get the best value for your home renovations.
What to Consider When Choosing a Home Renovation
Home renovations can range from completely redesigning your home, a single room or replacing some outdated elements. When you’re concerned about the resale value for a home project, the most important thing to consider is the upfront cost. Any home renovation should begin with a budget that reflects the project’s extent. When ROI comes into play, the ideal renovation has a relatively low upfront cost and will be seen as high value to potential buyers.
The more you invest upfront, the harder it will be to match that investment during a sale.
It’s also smart to consider renovations that add value beyond ROI. If you’re planning to live in the same home for a few more years before reselling, you should choose renovations that contribute to your happiness and make your life easier. If you spend a lot of time enjoying your yard, exterior renovations can boost your quality of life. A deck or porch renovation, for example, can make your outdoor experiences that much more enjoyable.
You also want to consider what added functionality a home renovation can bring to your residence. For example, a kitchen renovation might allow you more cabinet and countertop space. If you have an old garage door that doesn’t move smoothly and seems to get stuck often, a garage door replacement can make pulling into your garage a little easier and less of a hassle. You’ll recognize the benefit every time you head out or come home when you choose the right home improvement, such as these:
1. New Garage Door Installation
Replacing your garage door with a high-quality attractive model is one of the best overall investments you can make for your home. Why? First, exterior renovations tend to have a higher ROI because they increase curb appeal. A visually appealing outer appearance gets more buyers in the door and raises a home’s perceived value. A garage door makes up a good portion of that outer layer and ties the exterior together to create a focal point.
Investing in a new garage door also comes at a fraction of other exterior renovation projects, such as roof replacement, landscaping or deck additions.
Besides its high resale value, a garage door can provide other savings in the form of energy efficiency. Replacing a non-insulated garage door with an insulated one can help your home retain heat in the colder months and keep hot air out in the summer. As a result, your home’s heating and cooling system doesn’t have to use as much energy for climate control, and you can take advantage of excellent savings. We offer a variety of insulation options to meet your desired energy efficiency goals and budget.
A garage door is also a long-lasting investment. If you install one with quality construction and continue to maintain it, it will last 15-30 years. While you’ll need to replace the spring every 10,000 cycles — or openings and closings — and other hardware as required, the door itself will last a long time and continue appealing to buyers years after your investment.
2. Siding Replacement
Like garage doors, new siding can increase your curb appeal and attract buyers. As a result, it’s the second-highest ROI renovation in our location. Since siding covers a lot more area, you should expect to invest more upfront. The more expensive fiber-cement has a higher ROI. The average siding renovation will cost $19,964 upfront and recoup $13,667 at resale in Minneapolis. The average ROI for a fiber-cement siding job is 68.5%, making it one of the best home renovations.
Siding can give your home’s façade a refreshed look. If your current siding has taken a beating from harsh weather, this can be an important upgrade for those looking to sell their home. It also presents the opportunity to select a new color for your house.
3. Manufactured Stone Veneer Installation
As an alternative to siding, stone gives your home a natural look. You’ll find some surprisingly authentic options available with manufactured stone veneer. Manufactured stone comes with a lower price tag than real stone, and generally places less stress on your structural frame. Since it looks attractive to buyers without as high of an investment, artificial stone is an excellent choice.
You can apply a stone veneer in many places in your home, from a fireplace mantle to a shower backsplash. For the highest ROI possible, install it on your residence’s street-facing exterior, where it can increase curb appeal. When you replace about one-third of your home’s front-facing siding with a manufactured stone veneer, the project will cost about $10,777, on average, in Minneapolis. You’ll earn back an average of $7,300 at resale for a 67.7% return.
It comes in many styles, such as warm, earthy tones or cool slate grays. You can find veneers that replicate rectangular stone blocks or create a more organic pattern with a rougher texture.
4. Entry Door Replacement
While smaller than a garage door, an entry door has just as much of an ability to be your home’s main focal point. Since the front door is one of the first parts of your home a buyer interacts with, it can leave a lasting impression. Replacing an old, shabby door with a sturdy, eye-catching steel one can improve your curb appeal and resale value.
For an added boost to your ROI, consider replacing your entry and garage doors together with complementary designs. At BlackHawk Garage Door, we offer several collections of entry doors to complement our most popular overhead garage door designs.
5. Window Replacement
As one last improvement to your exterior, windows can be a worthwhile investment for ROI. Besides improving curb appeal, modern windows will likely enhance your home’s energy efficiency. Between extra panes of glass and weather-tight seals, better windows will let in less moisture and keep your home warmer all winter long. Those energy savings can increase your ROI beyond what you’ll earn at resale. Plus, savvy buyers will recognize the advantage of efficiency.
The average vinyl window installation, assuming you have 10 windows, will run you around $19,139. You’ll earn back $12,524 at resale for a 65.4% ROI, a slight bump to the ROI for wood window replacement.
Replace Your Minnesota or Wisconsin Home’s Garage Door
After crunching the numbers, you probably noticed that the garage door replacement ROI is far ahead of even the second-best home improvement in our area, and it comes at a fraction of the upfront cost. The key to getting the most from your garage door’s ROI is choosing an attractive, durable door that will draw in buyers and let them know they won’t need to replace it for years to come. You can add some additional value for yourself through improved energy efficiency.
You can get all the features of a high-quality, high-value garage door from BlackHawk Garage Door. Browse our overhead door collections and try our Door Imagination System to find the one that will look best on your home for higher curb appeal. Contact us today!
