Do you plan on moving in the near future? Many homeowners who prepare to move within the next few years often feel overwhelmed at the amount of home improvement projects that they feel their home needs. Since most people don’t have unlimited budgets, it is good to know which projects will give you the best bang for your buck. Your home’s exterior is the first thing guests will notice about your home; thus, it is important to keep your curb appeal updated. Even worse, it can steer potential buyers away.
Whether you plan on moving in the near future, or you simply want to upgrade your curb appeal; researching the return on investment for home improvement projects is a must, especially in the metro Richmond area. According to the 2017 Cost vs. Value report (www.costvsvalue.com), here are the top three outdoor upgrades with the highest return on investment in Richmond, Virginia:
3. Wood Deck Addition
A wood deck addition is a great way to add some outdoor living space and value to your home. Wood deck additions have an impressive ROI of 62.7%. Although there are many options for wood decks, the most popular choices are lumber and cedar. One of the major drawbacks with wood decks is that it requires lots of maintenance.
An important question to ask yourself is whether you plan on hiring someone to do the maintenance, or will you be doing the work yourself? The cost of hiring someone to keep your deck in good shape can get costly quick, which is why composite decks are a popular option. Although composite decks require less maintenance, their high costs cause their lower ROI.
2. Steel Entry Door Replacement
A steel entry door replacement has an ROI of 81.5% in Richmond, Virginia. Steel is durable, weather resistant, and doesn’t warp or rot like it’s wood counterpart. Compared to wood and some fiberglass options, steel entry doors are relatively affordable. Since wood doors require routine sanding and re-coating, steel entry doors are a good option for homeowners who prefer an entry door with low maintenance. Additionally, they provide good insulation (because of their foam core) and can even save you a couple of dollars on your heating and cooling bill!
1. Manufactured Stone Veneer
The project with the highest return on investment in Richmond, Virginia for 2017 is manufactured stone veneer with an ROI of 102%. This is even higher than the national average of 89.4% ROI. Stone veneer creates a feeling of ageless character and aesthetic. In addition, it is manufactured to withstand time; most manufactures offer a 50 year limited warranty.
Manufactured stone veneer is one-third the weight of full-thickness stone; thus, it can be adhered to most wall surfaces. Since the product is manufactured, it comes in a variety of colors and textures-which closely resemble the look of authentic stone.
These are the top three home improvement projects with the highest ROI for the Richmond, Virginia area. However, you should choose your next home improvement project based off of what you believe would be the best value for you and your family. As always, call an expert for any questions on home improvement projects.
© 2017 Hanley Wood Media Inc. Complete data from the Remodeling
2017 Cost vs. Value Report can be downloaded free at www.costvsvalue.com