You’ve got a tax return coming and want to invest in your home; but what remodeling project will protect your investment the best? Many would advise remodeling your bathroom or finishing the basement; and there’s always plenty of other things grabbing your attention.
But the truth is, the best return on your home improvement dollar may be much less glamorous than a new bathroom or kitchen. In fact, it may be right over your head. According to Realtor.com, the best home renovation under $5000 for ROI is adding attic insulation, bringing in a whopping 117% return. Lifehacker.com has been compiling statistics since 2002 and recommends you consider a new steel exterior door, with an average long-term ROI of 98%. While LifeHacker does show a modest recovery of 77% of you remodeling dollar for a modest bathroom remodel, both lists make it clear the majority of things you can do to increase the value of your home are exterior-related. Whether it’s new windows, a garage door, or replacing your siding, you can’t go wrong by investing on the outside of your home.
And you can avoid one of those major costs by maintaining your siding with yearly inspections to fill cracks and holes; and to check your paint’s condition. And you might want to consider a pressure wash if you can’t remember your last one. After all, you wouldn’t let your car go unwashed for a decade, would you?