Monmouth County Home Improvements: Which Best Increase Home Value?
Increase The Value Of Your Monmouth County Home With These Tips Provided By J Millet Construction
If you want to make a good investment, you can do it right at home. Improvements to the exterior of your home, including the yard, can reap a higher selling price when you’re ready to move. And in the meantime, your family will enjoy the upgrades.
Among the best values: an outdoor kitchen. Even a modest second kitchen will add more than months of outdoor fun for you and your family. It could increase the value of your home.
Research from organizations like Remodeling magazine and CNN Money have revealed that an outdoor kitchen will pay for itself—and then some—when it’s time to sell your home. You could recoup up to 200 percent of what you spent on it, the research says—although 100 percent is more likely.
You don’t need to go overboard, though. A simple outdoor kitchen with a built-in grill, some countertop space, a sink and a place for your guests to sit and eat will add value to your home.
And if you’re not planning to sell, the setup will add value to your family’s comfort and enjoyment during the spring, fall and summer every year.
A new deck or patio—even one without a kitchen—also will bring you an impressive return on investment: more than 60 percent for a patio and 50 percent for a wood deck.
Just as you’ll enjoy having the extra outdoor living space, so will the next family that lives in your home, so they’ll pay more if your place already has one, according to the last few years of Cost vs. Value Reports from Remodeling Magazine.
Adding a fire pit to the patio—even to an existing one—will up the value of the improvement even more.
A tip: Don’t go too big. Appraisers and home shoppers tend to look for homes whose add-ons look like they’ve always been there—like they “go” with the home. So keep your patio and additions in proportion with the house.
While you’re upgrading your home this summer, consider replacing your front door. The 2017 Cost vs. Value Report notes that you’ll get 76.7 percent back on a new, mid-range fiberglass door. Again, overdoing it doesn’t necessary increase your return on investment. The report says an upscale “grand entrance” that includes a fiberglass door will reap 64.6 percent of your cost when you sell your home.
Aside from making a great first impression on people who might be shopping for a new home, a well-insulated front door can reduce your home’s energy loss—and make a small dent in its utility bills.
But if you’re replacing the garage door, especially if it’s on the front of your home, go high-end. Your return on investment for an upscale garage door could be as high as 86.4 percent, while a midrange model will net you just 45.7 percent when you sell.
If your home’s exterior is clad in vinyl siding, consider replacing it if it’s old, stained or damaged. You could recover 80 percent of that cost when you move.
Smaller improvements also can up you selling price. Examples: outdoor lighting, paving a gravel driveway, nicer landscaping and shade trees.
The research doesn’t bode well for outdoor water features, however.
You will barely recoup any of the cost of a pool, for example, according to the reports.
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