Connecticut homeowners take pride in their properties and often spend a little money on upkeep and remodeling whenever they have the chance. When it comes to remodeling, not every home makeover is a good investment, in fact some a simply money potholes. If you’re considering remodeling your home soon, you might want to look into which projects will add the most value to your house. According to Remodeling Magazine’s 2014 Cost vs Value report, it is often the little upgrades that make a whole lot of difference when it comes time to resell a property. Here are a few projects that will give you the best financial return on your investment.
- Install a Steel Door- According to the Cost vs Value report, Norwich ,CT homeowners who upgrade their entry doors from wood or fiberglass to steel have seen a 203% return on their investment. One of the primary reasons for this is the increased perception of safety and security afforded by the heavy duty doors. Buyers value security and safety features when purchasing homes and adding these features to your home can even have an impact on your homeowners insurance premiums. Experts say that these doors often make a strong first impression and add curb appeal as well.
- Update Your Kitchen- minor kitchen remodels can see a 94% cost recuperation rate while major kitchen remodels often only recover 75% of their investment in the project. Either way, when a kitchen needs of an update, the changes are usually money well-spent for both the homeowner and prospective buyers. Updating appliances, countertops, cabinetry, paint and fixtures can bring life, fun and spirit into an outdated kitchen while improving the home’s resale value in the long run.
- Replace Siding– It is important to make a good first impression, especially for homes. That’s why curb appeal is so vital. Homeowners who replaced outdated siding for modern vinyl not only improve the durability of the home but also saw a 98% to 101% return on their investment, depending on the type of treatment chosen. Those who updated their windows trimmings and frames to vinyl saw 85% to 91% of their costs recovered.
- Garage Door Replacement– Updating your garage door might not seem like a “must”, but Connecticut homeowners who install new 4-section garage door on new galvanized steel tracks can see up to 94% of their costs recovered. Homeowners don’t have to go all out either according to professionals. Even new uninsulated, single-layer, embossed steel doors will do the trick to modernize the look and efficiency of your garage.
Renovations can help improve the value of your home but also come with additional liability and financial risk exposures. As such, it is important to review your CT homeowners insurance policy when considering any renovations. At Byrnes Agency, we understand that your Norwich, CT home is one of your biggest investments. Homeowners throughout Connecticut and Southern New England look to us to protect their homes in the event of damage or liability. To learn more about our coverage, please contact us today at one of our various locations.