Remodeling a home is no simple task. It takes months of planning, fore-thought, and more to achieve a proper home renovation or remodel. One of the most important factors to consider, especially when making the decision on what you wish to remodel, is which project will give you the highest return on investment and increase the home’s property value.
Continue reading for the four top-recommended home remodeling and improvement projects that offer the highest return on investment (ROI) for homeowners.
What’s a Good Home Remodeling Plan?
In order to determine whether a home remodel is worth the investment, you must compare the cost of the project to the value of the project. Value versus cost is the first step to assessing whether or not a project is worthwhile. The average cost of a remodeling project has to include everything from labor and materials, to time off work, and more. And the value is assessed by how much the home’s value increases, and how much of that value returns as a profit if you were to sell the property down the line. All of these considerations and more are important when deciding whether or not to a home remodeling project is a good return on investment.
Popular ROI Home Improvement Projects:
▣ Garage Door Replacement – Replacing a standard 16×7 garage door with a 4-section garage door and new tracks, but using the existing motor, costs on average around $1600, but renders a ROI of nearly 89% after resale.
▣ Entry Door Replacement – A simple front door replacement can pay for itself after resale. Replace an existing door with a new factory-finished steel door for a high return on investment up to 100% or more!
▣ Wood Deck Installation – A larger project that renders a large return on investment. A professionally-built pressure-treated wooden deck with built-in benches, planters, railings, and stairs can cost around $12,000, but render up to 80% ROI or more after resale.
▣ Vinyl Siding Installation – Replacing old siding with new vinyl siding and trim is proven to be a wise ROI project for property owners. The average cost of replacing 1200 square feet of siding with new vinyl and trim is $10,000 with an average ROI of 80% or more!
Does Your House or Business Need an Updated Look Before Resale?
Hire a certified Indianapolis general contractor for professional advice and renovation services you can trust. They retain the proper tools, equipment, and training to undertake any residential or commercial remodeling project.
Residential Construction Home Remodeling Contractors in Central Indiana
Call Restoration By L&B LLC at 317-454-3612 for home remodeling and commercial general contractor services in Indianapolis, Indiana. Owner and general contractor, Lee Elliot, is happy to answer all your questions about home remodel planning, prices, and process. And don’t forget; we guarantee to BEAT any prices quoted by our competition!