Home Renovations That Provide the Biggest Returns

Americans are moving less and less every year. In fact, mobility among the U.S. is at an all time low. That low mobility is what is fueling the growth of the flipping market. 

Any experienced flipper will tell you that not every home renovation will yield the same payback. 

Although the house flipping market is shrinking, the overall returns on remodeling are decreasing. According to Remodeling Magazine, the cost to value ratio stands at 63.7% down from last year. This cost to value ratio is all because material and labor costs are becoming more and more expensive. 

Here are some home renovations that are worth the hassle:

          1. Garage Door

This renovation may not be the first on your mind, but with this renovation you’ll get almost all of what you paid to replace it. 

          2. Stone Veneer

The cost recouped from this renovation clocks in at 97%. Curb appeal is something everyone wants to see. You’re buyers are going to most likely make a snap judgment about your house based on the outside of it. It’s in your best interest that you make it look worth walking into. 

          3. Entry Door

Same thing applies to the front door as it does to the veneer. First impressions matter, so you want to make sure you can make a good one. A nice front door will get you 90% back of what you put into it. So, it would be worth your time to ensure your front door is in tip top shape. 

          4. Add a Wooden Deck

If you’re like me, you like a space where you can entertain. A deck remodel isn’t cheap, but it will definitely add some value to your house and money in your pocket. 

          5. Universal Bathroom Design

Unfortunately, we are not immune to aging. As your buyers grow old, they’re gonna want a bathroom that will be able to grow with them. It will help prolong their time spent enjoying the space you’ve provided for them. 

By: Mike Oborn