- Garage door replacement. You can get a 150% return on investment when you replace your garage door, and the average cost is around $3,800 here in the Pacific Northwest.
- Stone veneer. If you have a simple facade and you want to add a little pizzazz to it to amp up your curb appeal, installing stone veneer will do the trick. The average cost is $9,400, but the average return on investment is 116%.
- Minor kitchen remodel. By “minor,” I mean you don’t have to rip everything out—just replace the appliances, change the countertops, add a backsplash, etc. The average cost is between $10,000 and $15,000, and the average return on investment is 97%.
- Front door replacement. For this door replacement, you can expect to spend about $2,000 and get a 94% return on investment.
- Light bathroom remodel/window replacement. Both of these items average a 90% return on investment.
What’s the lesson here? First of all, you’ll notice that only the top two exceed 100% in terms of total return. This means if you’re thinking of spending a whole bunch of money getting your house ready to sell and assuming you’ll get it all back, you might be mistaken. This is why it’s always a good idea to call an agent such as myself so we can advise you on how to minimize costs and see what kind of return you’ll get for the renovations you’re considering.
If you have any other real estate questions for me, don’t hesitate to reach out to me. I’d love to help you.