Monday, March 14, 2022 / by Carly Liszewski
8 Best Home Improvements with Biggest Returns of Investment in Colorado Springs
While the housing market in Colorado Springs is flooded with buyers jumping at any opportunity to buy a home, there are still minor improvements you can make to your home to ensure you get the biggest resale value possible. Here are some home improvements you can make that are likely to yield the biggest returns of investment.
1. Entry Door Replacement
There are many reasons to replace the entry door of your home. You can also make minor changes to the entry door like repainting it, adding new hardware, and adding or taking out window panels. Updating your entry door can up the resale value of your home and let it get a lot of attention on its market listing when done right. Replacing your entire entry door can be incredibly energy efficient, which is the biggest value to increasing your return on investment. According to Zillow, the average cost to replace an entry door is $2,082 and the resale value is $1,353. Overall, you could recoup 65% of your total investment on replacing your entry door.
2. New Interior Paint
Adding a new fresh of paint to any room inside your house will give it a fresh new look. Or completely repaint the interior of you home with trending colors to increase the interest of buyers. A safe choice for new paint inside would be neutral colors such as gray or beige walls and white trim. The average return you could see at resale with an updated coat of paint in your home is about 40% of your investment. To take your home improvement a step more, consider refreshing the trim and baseboards with paint and caulking any gaps.
3. Flooring
Floors get probably the most wear and tear in houses. Hardwood floors will require refinishing to smooth out scratches and carpets will need shampooing at the least. If you’re looking for a bigger home improvement project, hardwood floors are one of the most popular flooring choices. Hardwood can increase your resale value, typically yielding up to 75% of your investment.
4. Small Bathroom Upgrades
Bathroom remodels can get very expensive very fast. If you are reselling your home, only stick to a couple basic items for a big return on your investment. Minor bathroom upgrades to increase the resale value of your home include re-caulking around the tub, repainting the walls, replace lighting fixtures or installing new shower doors.
5. Curb Appeal
Upping your curb appeal can be done in many ways such as incorporating landscape design, water features and gardening, or adding a mix of different sized rocks for xeriscaping. Include a charming focal point like a walkway or fountain to really increase the resale value of your home. Return of investments on curb appeal can yield 100% in your resale.
6. Minor Kitchen Remodel
Just as a bathroom remodel can cost thousands of dollars, a full kitchen remodel can be even more expensive. But there are also a few minor improvements you can make to your kitchen to get a higher resale value of your home. These improvements include resurfacing cabinet doors and drawers, placing recessed lighting under cabinets to light countertops, and repainting. A typical minor kitchen remodel can return 72% of your investment.
7. Composite Deck Addition
Most homeowners in Colorado Springs prefer to use composite material for outdoor decks. Composite is less hassle because Colorado’s harsh exposure to the sun, snow, and rain can fade and break down the stain on real wood. The range of return rate from adding a composite deck is 65% to 90%.
8. Garage Door Replacement
Replacing the garage door of your home is one of the biggest returns of investment you can make to your home. The average cost of garage door replacement, according to Zillow’s value report, is $3,907 but yield a nearly 94% return. It might be worthwhile to research the trending garage door types and styles, like steep, wood, and wood composite.
From the historic Victorian homes in west Colorado Springs to new built houses throughout El Paso County, any home could use improvements. You may not have to go all out for home improvements when listing your home for sale, but these minor projects can really increase your resale value. If you have questions about selling your home or buying in Colorado Springs and the greater El Paso County area, reach out to us today! We will be happy to chat and answer anything that comes to mind.
1. Entry Door Replacement
There are many reasons to replace the entry door of your home. You can also make minor changes to the entry door like repainting it, adding new hardware, and adding or taking out window panels. Updating your entry door can up the resale value of your home and let it get a lot of attention on its market listing when done right. Replacing your entire entry door can be incredibly energy efficient, which is the biggest value to increasing your return on investment. According to Zillow, the average cost to replace an entry door is $2,082 and the resale value is $1,353. Overall, you could recoup 65% of your total investment on replacing your entry door.
2. New Interior Paint
Adding a new fresh of paint to any room inside your house will give it a fresh new look. Or completely repaint the interior of you home with trending colors to increase the interest of buyers. A safe choice for new paint inside would be neutral colors such as gray or beige walls and white trim. The average return you could see at resale with an updated coat of paint in your home is about 40% of your investment. To take your home improvement a step more, consider refreshing the trim and baseboards with paint and caulking any gaps.
3. Flooring
Floors get probably the most wear and tear in houses. Hardwood floors will require refinishing to smooth out scratches and carpets will need shampooing at the least. If you’re looking for a bigger home improvement project, hardwood floors are one of the most popular flooring choices. Hardwood can increase your resale value, typically yielding up to 75% of your investment.
4. Small Bathroom Upgrades
Bathroom remodels can get very expensive very fast. If you are reselling your home, only stick to a couple basic items for a big return on your investment. Minor bathroom upgrades to increase the resale value of your home include re-caulking around the tub, repainting the walls, replace lighting fixtures or installing new shower doors.
5. Curb Appeal
Upping your curb appeal can be done in many ways such as incorporating landscape design, water features and gardening, or adding a mix of different sized rocks for xeriscaping. Include a charming focal point like a walkway or fountain to really increase the resale value of your home. Return of investments on curb appeal can yield 100% in your resale.
6. Minor Kitchen Remodel
Just as a bathroom remodel can cost thousands of dollars, a full kitchen remodel can be even more expensive. But there are also a few minor improvements you can make to your kitchen to get a higher resale value of your home. These improvements include resurfacing cabinet doors and drawers, placing recessed lighting under cabinets to light countertops, and repainting. A typical minor kitchen remodel can return 72% of your investment.
7. Composite Deck Addition
Most homeowners in Colorado Springs prefer to use composite material for outdoor decks. Composite is less hassle because Colorado’s harsh exposure to the sun, snow, and rain can fade and break down the stain on real wood. The range of return rate from adding a composite deck is 65% to 90%.
8. Garage Door Replacement
Replacing the garage door of your home is one of the biggest returns of investment you can make to your home. The average cost of garage door replacement, according to Zillow’s value report, is $3,907 but yield a nearly 94% return. It might be worthwhile to research the trending garage door types and styles, like steep, wood, and wood composite.
From the historic Victorian homes in west Colorado Springs to new built houses throughout El Paso County, any home could use improvements. You may not have to go all out for home improvements when listing your home for sale, but these minor projects can really increase your resale value. If you have questions about selling your home or buying in Colorado Springs and the greater El Paso County area, reach out to us today! We will be happy to chat and answer anything that comes to mind.
