7 Home Improvements That Get the Highest Return
If you’re planning on selling your current home and moving in the near future, you undoubtedly have a lot on your mind. Among all the to-do lists and budget considerations, you may be asking questions like:
- What home repairs do I need to do before I move?
- Will I need to store some or all of my belongings in the short term?
- Should I do any home improvements or renovations?
Deciding whether or not to do home upgrades before you sell can be one of the toughest questions to answer because there are several things to consider, such as:
- What is your home currently worth?
- What are comparable homes (“comps”) in your area selling for?
- What is the condition of your home compared to other area homes?
- What does the real estate market currently look like?
- How long will you live in your home after renovating?
It’s a good idea to ask an appraiser or a real estate agent to survey your home and give an expert opinion on what remodels would give you the most value for your money.
What Home Improvements Yield the Highest Return on Investment?
These considerations are important to determine what’s best for your situation, but there are certain home improvements proven to get a high return on investment. These high ROI improvements are designated each year using national cost versus value data.
The exact order of the rankings varies by region, so we’ve highlighted the top 7 for Minnesota homeowners considering a move in the near future.
The 7 best home upgrades for Minnesota homeowners
Each of these upgrades has been shown to deliver a financial return of at least 75%, with the top three coming in at 90% or more.
- Manufactured stone veneer
Adding a stone veneer to the bottom third of your home’s street-facing side improves your curb appeal and perceived value. This look is popular right now and can typically be completed in around a month for under $10k (at nearly 100% return).
- Siding replacement
Fresh, new siding is another project that will greatly improve your home’s curb appeal and deliver a high return rate. Vinyl siding with a fade-resistant finish is attractive and low maintenance, making it appealing to potential buyers.
- Entry door replacement (steel)
A new steel front door is an affordable project that boosts your home’s curb appeal, safety, and efficiency. Your home’s front door is a large part of its first impression on buyers — this small change goes a long way.
- Garage door replacement
A new garage door has been on the list of top home improvements for at least seven years running, and it took the number one spot nationally for both 2018 and 2019. As with most of the other items on this list, this simple improvement is great for curb appeal.
- Minor kitchen remodel
An updated kitchen is one of the top items on almost every homebuyers list. If yours isn’t quite up to today’s design standards, however, you don’t need to sink a fortune into it. A “minor” update of counters, cabinet fronts, and appliances ($15-20k) will give you a better return than a complete overhaul.
- Window replacement (vinyl)
Replacing windows might not seem glamorous, but buyers would rather take on “fun” renovation projects than necessary repairs. If your windows don’t function properly or offer proper insulation, this is money well spent.
- Deck addition (wood)
Homebuyers crave outdoor spaces (especially in Minnesota), which is why a deck addition is another popular home improvement with excellent returns. A new deck will take around $10-15k and up to six months to complete, so you’ll likely want to invest in this upgrade early enough to enjoy it yourself.
Work With Minnesota’s Moving Experts
AAA Movers has over 50 years of knowledge and experience helping movers with all aspects of their move. Whether you need help decluttering or staging your home for a move or just want a free moving quote, give us a call.