Selling a house often requires making repairs and improvements. While some are essential, others can be optional. When deciding which repairs and improvements to undertake, it’s important to focus on those that offer a good rate of return on the investment of time and money. In this regard, it’s useful to know the national average rate of return for home repairs in Atlanta. These repairs are ranked below in order of least to greatest ROI, so you can make an informed decision about where to invest your resources.
1. Siding Replacement
Replacing your siding is a good investment as it provides a decent rate of return when you sell your house. Moreover, replacing old siding is often necessary. The cost of replacing 1,250 square feet of siding is about $15,000 on average nationwide, and you can expect to recoup approximately $11,500 when you sell your home in Atlanta. This results in a rate of return of over 76% on your investment.
2. Minor Kitchen Remodel/Repair
When it comes to home remodeling, a minor kitchen renovation can yield a higher return on investment than a major overhaul, typically around 81%. For example, consider a sample kitchen remodel with the following specifications:
– Kitchen size: 200 square feet
– 30 linear feet of cabinets
– Updated cabinets with new panels and drawer fronts
– New laminate countertops
– New energy-efficient appliances
– Replaced sink and faucet
– New vinyl flooring
– Painted trim
– Walls papered
The cost of this remodel would be around $21,000, with an estimated resale value of around $17,000, resulting in an approximate return rate of 81%.
3. Deck Addition
Decks are a popular addition to backyards because of their ability to enhance outdoor spaces and provide a great location for social gatherings that promote conviviality. However, you may be wondering if adding a wood deck to your home in Atlanta is a wise investment that can yield a high enough rate of return. Let’s take a closer look.
Suppose you decide to add a deck to your home that measures 16 by 20 feet, complete with rails, steps, and banisters. The total cost for this addition would come out to be around $11,000. If you decide to sell your home after adding this deck, you can expect to get back around $9,000, which translates to a return on investment (ROI) of approximately 82%. This is a pretty impressive ROI, especially considering the additional benefits that come with having a deck.
4. Steel Entry Door Replacement
Replacing a steel entry door is a cost-effective repair that can yield an impressive 91% or higher rate of return. For instance, replacing a 36-inch 20-gauge steel door with a dual-pane half glass panel, along with new jambs and threshold, typically costs around $1,400. However, you can expect to get back approximately $1,340 when you sell the property, resulting in a return on investment of over 91%.
5. Manufactured Stone Veneer Installation
If you’re looking to improve the value of your home in Atlanta, replacing old vinyl siding with adhered manufactured stone veneer can be a great investment. This improvement promises an outstanding rate of return of just over 97%. While the average cost of this renovation is around $8,200, the average resale value is almost $8,000. Not only can you expect to recoup almost all of the expense, but this renovation will also enhance your home’s aesthetics and improve curb appeal. This can translate into a quicker sale at a better price.
6. Garage Door Replacement
We have some good news to share. Garage door replacement offers an average rate of return of 98% or more. This not only puts a lot of cash back into your pocket when you sell, but it also enhances the curb appeal of your home for a quicker sale. By replacing an existing 16-foot garage door with a new four-section door with heavy-duty galvanized steel tracks, the cost would be around $3,470. However, the resale value is $3,410, resulting in an impressive ROI of 98%. When you consider the rate of return, some repairs and improvements are worth it, some are borderline, and some should be avoided altogether. But replacing your garage door promises the best ROI for home repair in Atlanta.