You are using an older browser version. Please use a supported version for the best MSN experience.

17 Home Renovations That Add Value to Your House

Money Talks News Logo By Erica Silverstein of Money Talks News | Slide 1 of 18: Editor's Note: This story originally appeared on Living on the Cheap. Even if you’re not planning to sell your home any time soon, when you consider remodeling, you face this inevitable question: How much will this improvement add to the value of my home? Surprisingly, much of the time the answer is not as much as it costs to make the improvement. But some home renovations pay off more than others. For example, do you know what the top-ranking home improvement is for resale return on investment? It’s replacing your garage door, which on average adds 93.8% of the amount you spent to the value of your home, according to Remodeling magazine’s annual Cost vs. Value Report for 2022. Other home upgrades that add value and will recoup the largest percentage of your costs include adding a manufactured stone veneer, a minor midrange kitchen remodel, and replacing the siding of your home. Experts say that the most valuable renovations give a potential buyer the best first impression and speak to the things they care about most (like kitchens and bathrooms). They also warn that gutting a kitchen, bathroom, or entire floor of your house can be hugely expensive — and you almost never recoup your renovation costs. If you want home renovations that will add value to your house, here’s where you should focus your attention. It’s not the usual blah, blah, blah. Click here to sign up for our free newsletter. Sponsored: Add $1.7 million to your retirement A recent Vanguard study revealed a self-managed $500,000 investment grows into an average $1.7 million in 25 years. But under the care of a pro, the average is $3.4 million. That’s an extra $1.7 million! Maybe that’s why the wealthy use investment pros and why you should too. How? With SmartAsset’s free  financial adviser matching tool. In five minutes you’ll have up to three qualified local pros, each legally required to act in your best interests. Most offer free first consultations. What have you got to lose? Click here to check it out right now.

17 Home Renovations That Add Value to Your House

Editor's Note: This story originally appeared on Living on the Cheap.

Even if you’re not planning to sell your home any time soon, when you consider remodeling, you face this inevitable question: How much will this improvement add to the value of my home?

Surprisingly, much of the time the answer is not as much as it costs to make the improvement.

But some home renovations pay off more than others. For example, do you know what the top-ranking home improvement is for resale return on investment? It’s replacing your garage door, which on average adds 93.8% of the amount you spent to the value of your home, according to Remodeling magazine’s annual Cost vs. Value Report for 2022.

Other home upgrades that add value and will recoup the largest percentage of your costs include adding a manufactured stone veneer, a minor midrange kitchen remodel, and replacing the siding of your home.

Experts say that the most valuable renovations give a potential buyer the best first impression and speak to the things they care about most (like kitchens and bathrooms). They also warn that gutting a kitchen, bathroom, or entire floor of your house can be hugely expensive — and you almost never recoup your renovation costs. If you want home renovations that will add value to your house, here’s where you should focus your attention.

It’s not the usual blah, blah, blah. Click here to sign up for our free newsletter.

Sponsored: Add $1.7 million to your retirement

A recent Vanguard study revealed a self-managed $500,000 investment grows into an average $1.7 million in 25 years. But under the care of a pro, the average is $3.4 million. That’s an extra $1.7 million!

Maybe that’s why the wealthy use investment pros and why you should too. How? With SmartAsset’s free financial adviser matching tool. In five minutes you’ll have up to three qualified local pros, each legally required to act in your best interests. Most offer free first consultations. What have you got to lose? Click here to check it out right now.

© Yellowj / Shutterstock.com
Loading...

XD Load Error

More from Money Talks News

Money Talks News
Money Talks News
AdChoices
image beaconimage beaconimage beacon