CHAPTER 2 Where to Spend the Mone o Spend the Money
Full-scale remodelling projects don't generally offer the best ROI. Instead, the best approach to getting higher value for your expense and effort is to refresh or replace existing items like windows and doors, usually with a mid-range upgrade. Spend according to your home's price range. Where should you spend your money for the greatest return? How much of your costs can you expect to recoup when it's time to sell? Let's begin by going over some of those replacement projects and continue with an overview of other big hitters, particularly the kitchen and bathroom remodel.
These projects are relatively simple and less costly, placing them within reach of most homeowners. The top four improvement projects in terms of ROI, according to Remodeling magazine, are the following:
• Garage door replacement: 98.3% • Manufactured stone veneer: 97.1% • Deck addition (wood): 82.8% • Minor kitchen remodel: 81.1%
As you can see, these are not sweeping, spectacular changes. So why are they so valuable? First, you should consider the location of all these changes. They are all on the home's visible exterior, creating a positive first impression in the minds of potential buyers — one that helps set the home's value in their minds.
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