3 Renovation Projects That Can Add Value to Your Home
Home renovations can make us feel more comfortable and happy inside our property, but many updates can add value to your home when you're ready to refinance or sell. Unfortunately, significant home improvements like bathroom remodeling, kitchen updates, or new decks can be expensive. This investment cost makes it essential to consider the return level you expect before committing to a renovation project. Our expert home remodeling contractor in Orlando offers you the following information on renovation projects that tend to deliver the highest returns.
Replacing garage doors
On average, you can recoup nearly 94% of your spending dollars from garage door replacement. The average garage door replacement cost is around $3900, while the average resale value checks in at nearly $3700. Our job estimate is based on the price for the removal and disposal of a 16' X 17' garage door replaced by a four-section garage door with tracks made of heavy-duty galvanized steel. This estimate does assume that you're recycling your previous motorized garage door opener. In addition, this renovation project will offer your property a higher curb appeal and a great return on investment if you decide to sell or refinance.
Stone veneer exteriors
On average, you can recruit recoup over 90% of your spending dollars when replacing part of your vinyl siding with stone veneer. The average cost of this renovation chimes in at just over $10,000, while the average resale value is around $9500. Projects like this can significantly improve your curb appeal and allow you to get a great return on investment costs.
Minor kitchen renovations
On average, you can recoup more than 72% of your spending dollars with a minor kitchen renovation project. The average cost of this type of project rings in at just over $26,000, while the average resale value comes up at about $19,000. Creating a functional and more modern-looking kitchen area can add value to your home, increase your enjoyment of activities like sharing meals, entertaining friends, or cooking.
Project funding
Home remodeling projects can be costly, but there are various ways you can get your funding in order. First, consider a home repair or home remodel loan to cover your renovation project. Then, reach out to your favorite online lender, bank, or credit union to explore your options for these unsecured personal loans. You may also consider a home equity line of credit, which is a secured loan option backed by your home's value. These loans often have lower interest rates than unsecured loans because they are secured. Home equity loans or second mortgages are also a great option with fixed interest rates that you can repay over time. If you are sure about the project you want to complete and know the cost involved, a home equity loan may be an excellent option for you.
Contact us today if you need a home remodeling contractor in Orlando. We have the experience and expertise to provide you with an accurate bid, complete your project in a professional and timely manner, and exceed your greatest expectations.