Top Home Improvements That Will Increase Value in 2023
When it comes to home improvement, you want to make changes that not only benefit you but also add value to your property. Certain home improvements are expected to provide the highest return on investment in 2023. (ROI). The following are the top home improvements that will add value in 2023:
1. Garage Door Installation
Replacing your garage door can be a low-cost way to improve the curb appeal and value of your home. A garage door replacement has an ROI of around 97.5%, according to the 2023 Cost vs. Value Report. This means that if you spend $3,000 on a new garage door, you can expect to recoup approximately $2,925 when you sell your home.
2. Installation of Manufactured Stone Veneer
Installing manufactured stone veneers is another popular home improvement project that adds value. This type of siding has a natural appearance and can help to update the exterior of your home. This project’s ROI is estimated to be around 94.9%, which is higher than the ROI for most other exterior home improvements.
3. Minor Mid-Range Kitchen Renovation
Kitchen remodels can add significant value to a property because they are often considered the heart of the home. Minor mid-range kitchen remodels are expected to provide a 77.5% ROI in 2023. Minor updates such as replacing countertops, cabinet fronts, and appliances are common in this type of remodel.
4. Installation of Fiber-Cement Siding
Fiber-cement siding is another popular choice for homeowners looking to update the exterior of their homes. This type of siding is long-lasting, low-maintenance, and can help to improve the energy efficiency of your home. This project’s ROI is estimated to be around 76.6%.
5. Installation of Vinyl Windows
Finally, installing new vinyl windows is a home improvement project that can increase the value of your home. This project has an estimated ROI of 73.7%, making it a wise investment for homeowners looking to improve the energy efficiency and curb appeal of their homes.
While numerous home improvement projects can increase the value of your home, these five are expected to provide the highest ROI in 2023. Whether you want to sell your home or simply improve it for your enjoyment, these home improvements can help you get there. Simply work with a reputable contractor to ensure that the work is completed to a high standard and on time.