Remodeling the exterior of your home is a satisfying endeavor that will also boost the value of your home. If you’re considering a home renovation, use our Visualizer tool to design your dream home before you spend a dime. Customize the look of your home with new siding, windows, doors, and trim in a variety of colours.
Remodeling requires an investment, so it’s helpful to know the return to expect to ensure you choose the right projects. Remodeling Magazine has released its 2021 cost vs. value report, and although this is U.S. data, you can expect similar trends here in Canada. Take a look at 5 remodeling projects that pay off.
1. Replacement Garage Door
Installing a new garage door comes with the biggest pay off. You can recoup more than 93% of the cost of a new garage door when you sell your home. A new garage door adds to the curb appeal of your home, and it enhances security for items you keep in your garage. An old garage door can make your home look dated, so switching it out will do wonders for your exterior.
2. Siding Replacement
Replacing your home’s siding is a big undertaking but one that should lead to less maintenance, better energy efficiency and improved aesthetics. A home with elegant, durable siding will increase your curb appeal and stand out to potential buyers. It’s the first thing they see when they drive up to your home, so make a stunning first impression with siding.
3. Upgraded Windows and Doors
Replacing windows and doors with higher quality options should be toward the top of your project list as they come with a big payoff. Replacement vinyl windows can return homeowners almost 70% of the project cost upon resale, and new steel doors provide a 65% return. Both reduce outside noise, enhance your home’s safety and security, improve home comfort and increase energy efficiency.
4. A New Deck
A new deck is an excellent addition as it allows you to extend your space with an outdoor lounge, dining or entertaining area. Plus, when later selling your home, you can recover over 65% of the cost for building the deck. Whether you’re planning to host summer barbecues or just want a place to relax, a new deck will give you a great space to invest in.
5. Stone Veneer
Stone veneer offers the authentic beauty of traditional stone masonry without the high cost and installation time. Upgrading your exterior with stone veneer, such as in an entryway or around the base of the home, can also really boost your curb appeal. This project can recoup over 92% of its cost, making it a worthwhile investment.
An exterior renovation is an exciting endeavor, but if you plan to sell your home in the future, make sure to invest in projects that have the best return.