As summer approaches and the days are sunnier, you may be looking at your home in a new light. What appeared to be great in winter now seems tired and in need of refurbishing. If you are contemplating starting home improvement projects that add value, it might be helpful to know what renovations return the most at resale. Before spending thousands of dollars, consider the West Coast’s average recoup values. Below are the top four renovations that yield a high return on your investment for 2023.
Electric HVAC System Conversion: 104.8% Cost Recouped
While not the most exciting project, converting your HVAC system from gas to electric adds value to your home. Appliances powered by natural gas have been banned or restricted in new buildings by several major cities, including Seattle, to reduce pollution and climate change. So if you decide to make the change, you will be ahead of the curve.
Regardless, before making a decision, take time to consider all the pros and cons. Overall, moving away from natural gas is safer. Without gas, there isn’t a risk of carbon monoxide poisoning. And electric HVAC systems tend to be cheaper than gas to install and run more quietly. Yet, keeping an electric heater running in winter tends to cost more. If you do decide to make the change, know that it’s a complicated process and not a DIY project. It’s best to hire a professional for this home improvement project because it impacts the wiring and connectivity of your whole home.
Siding Replacement: 98.3% Cost Recouped
Siding replacement is a home improvement project that can make your life easier in the long run. Vinyl siding is very low maintenance, doesn’t need painting, and is low cost compared to other types of siding. Thanks to the durability of vinyl siding, you don’t have to worry about chipped paint, and dirt easily washes off. It also tends to last decades, with time frames varying depending on the weather.
To further consider this specific project, check out the pros and cons of vinyl siding. In general, it’s popular and will give your home a great new look. It’s even been proven to better insulate homes and decrease energy costs. If you plan on selling your home in the near future, pick a vinyl siding color that boosts your home’s curb appeal.
Garage Door Replacement: 96.8% Cost Recouped
Garage doors are constantly being used multiple times a day and are destined to experience wear and tear. Additionally, the outside of the garage door is continuously being exposed to the elements. Whether you want something that works better or are interested in a technology upgrade, or need to replace rotting wood, replacing your garage door is a worthwhile investment. That said, it’s not necessarily as simple as you might think. So, to get started, consider these top questions to ask yourself regarding material, whether or not to hire a professional and more.
Entry Door Replacement: 88.7% Cost Recouped
Coming in fourth on the list is replacing your front door with steel. While wood doors are lovely and offer a classic style and quality, they aren’t truly timeless. Installing a new steel entry door delivers long-lasting beauty with increased durability. A steel door is also more energy efficient and provides greater security. A brand-new steel door is a solid investment, especially if your front door is old and tired, and there are many steel door options to consider.
Hopefully, this list sparks some ideas. As you evaluate the best home improvement projects that add value and are right for you, take time to also consider if you need to address any urgent home repairs as well. And, if you’re looking for some great gadgets to increase your home’s cool factor, this list has fun ideas.