Who would have thought a new steel door on your home would recoup the most value? But, it does. According to Remodeling Magazine’s 2016 cost vs value report, you can expect to recoup nearly 90% of the cost when you sell your home.
Exterior work on a property is leading of projects that give you the most bang for your buck. This is largely because it’s all about the first impression to a potential buyer. Most will assume if the exterior is not impressive neither is the interior.
You might be thinking does a new steel door really make a big difference? It improves security and energy saving benefits. This practicality tends to be generally more appealing to a buyer then luxurious add-ons that they don’t like.
Out of the 18 home improvements, all of them recouped value greater than 50% for the Baltimore area.
- Steel Entry Door
Baltimore Average Cost: $1,346
Return on Investment: 89%
With the low cost and durability, steel doors typically offer the highest return of all home improvement projects.
- Garage Door Replacement
Baltimore Average Cost: $1,624
Return on Investment: 88%
Replacing your garage door isn’t necessary unless your existing one is old and outdated. But, it is always another idea of how to improve the home exterior. When you see a house with bright new garage doors it rends to stick out and look very nice.
- Siding Replacement
Baltimore Average Cost: $14,170
Return on Investment: 75.1%
When you see a house with ugly, faded, and damaged siding it makes the house look very unappealing. With new siding it brightens the house up and makes it look newer. This again goes along with making a first impression on a possible new buyer.
- Wood Deck
Baltimore Average Cost: $10,179
Return on Investment: 71.1%
With the economy rising outdoor spaces are becoming more popular. Remodeling Magazine based their cost for a 16ft x 20ft deck with a bench, railing, and stairs. Decks create a nice at home oasis that will bring families together to enjoy their home.
- Minor Kitchen Remodel
Baltimore Average Cost: $20,057
Return on Investment: 70.9%
The kitchen is always a good place to invest money because it is considered “the heart of the home”. The Remodeling Magazine, defines a minor kitchen remodel as one that replaces the front of the cabinets with raised panel wood doors. It also includes replacing the oven, stove, and slide-in fridge with energy efficient models. They include replacing laminate countertops, installing a mid-priced sink, repainting, and replacing the floor.