Owning a home can be a lucrative investment. Real estate is one of the only investments that tends to appreciate over time regardless of what the market is doing. The current average of appreciation is 14.5%, and even in poor markets, such as what occurred in 2019, real estate was still appreciating — though at a lower 4%. One of the ways you can make your home investment even more valuable is by choosing some high return on investment (ROI) home improvement projects.
Whether you plan to hold onto your home for many years to come or you want to sell it so you can upsize to one of the larger Camden County homes for sale, doing some smart updates can help you enjoy your home more and increase its overall value. Here are some projects that reliably return much of the money you spend on them when you sell.
1. Adding stone veneer to your exterior
2. Replacing the garage door
The garage door — especially if it faces the street — is another big part of curb appeal when it comes to Camden County homes for sale. If your garage door is in disrepair, faded, or outdated, it can ruin a prospective buyer’s first impression of your home. It can also have an impact on how much enjoyment you and your family get out of the home as you are greeted by the sight of your garage door every time you pull up to your house.
When it comes to ROI, replacing your garage door is one of the wisest decisions you’ll make. Depending on what style of garage door you prefer and how many doors you need, you can expect to pay anywhere from $377 all the way up to $3,648 for the door(s) themselves and an additional $400 to $500 to have them installed. Fortunately, you can expect to recoup 98.3% of that expenditure when you sell.
3. Install new windows
4. Incorporate smart features
Today’s buyers of Camden County homes for sale are searching for homes that are safe, convenient, and on the cutting edge of technology. Adding smart features to your home can instantly make it more appealing and, depending on which choices you make, could increase the value of your home by thousands of dollars. Some of the highest ROI smart upgrades are:
Smart heating, cooling, and lighting solutions.
Smart home security systems.
Smart appliances, like refrigerators, washers, dryers, dishwashers, and freezers.
Smart hubs that control entertainment, major systems, or whole-home automation.
5. Do some minor kitchen remodeling
A user-friendly, attractive kitchen enhances your enjoyment of your home while you still live in it and can help your home compete with other Camden County homes for sale when it’s time to list. If your kitchen already has a modern layout and just needs a refresh, opting for a minor kitchen remodel is a sound decision. This project focuses on revitalizing and updating your kitchen and includes cabinet refacing and new flooring, appliances, paint, and sink. The typical cost is anywhere from $5,000-$25,000 depending on how large your kitchen is and what materials you select. When you sell, you can expect to get an average of 81.1% of your investment back in the form of a higher selling price.
6. Update your curb appeal
Increasing the value of Camden County homes for sale is a savvy decision for both those who plan to stay in their home for many years and those who wish to list in the upcoming months. If you plan to sell and want advice on the high ROI projects you should implement before you list, reach out to trusted Camden County real estate agent Terry Grayson. Terry can help you choose the right projects to ensure your home sells quickly and for top dollar.