So you've finally bought your very own home. But it needs some work, huh? That's OK; making changes along the way is all part of the process when you're transforming your new home into the space of your dreams.
So what comes first? Which home-improvement project will give you the best bang for your buck and give you a decent return on investment if or when you decide to sell?
Remodel magazine's Cost vs. Value report did the research. This handy guide compares the "average cost for 30 popular remodeling projects with the value those projects retain at resale in 100 U.S. markets." You can download a report specific to the region and city you live in.
We put together the top seven home-improvement tweaks that will bring the most return on investment:
Attic insulation
It might be surprising at first, but when you look into the myriad benefits, it's easy to see why attic insulation is the top home improvement for return on investment. The first major benefit is energy efficiency. A home that isn't properly insulated can cost you big time. While you can DIY attic insulation, there are potential safety hazards involved (including asbestos exposure), so if you aren't experienced in tackling large home-improvement projects, EPA's Energy Star recommends hiring a contractor. You can schedule a free in-home consultation with the Home Depot insulation unit to see how much it will cost in your home.
Job cost: $1,268
Resale value: $1,482
Cost recouped: 116.9 percent
Entry door replacement
Who doesn't love a beautiful entry? In fact, there's a whole hashtag dedicated to it; just punch in #doorsofinstagram and you'll find more than 30,000 of them all over the world. It's not just aesthetics; a new steel entry door also provides energy-efficient insulation. According to Home Depot, installing them is a fairly easy DIY project.
Job cost: $1,335
Resale value: $1,217
Cost recouped: 91.1 percent
Garage door replacement
Regardless of what you choose, the garage door is just as important as the entry. Not only does it enhance the overall appearance, it also upgrades your home security, too. If you're thinking of installing a new garage door or replacing your old one, Sears offers a free consultation.
Job cost: $1,652
Resale value: $1,512
Cost recouped: 91.5 percent
Manufactured stone veneer
Don't be deterred by the term "manufactured"; it now looks remarkably similar to the real thing. According to Taylor Concrete, the term veneer "implies something that is decorative or cosmetic with a functional element," which means these stone walls can be applied directly to most surfaces including drywall, concrete or brick. That makes it a much simpler home-improvement project than actual stone. Once you decide on a place to feature the stone veneer, you can watch Eldorado Stone's step-by-step video on how to install it yourself. Lowe's has one too. Otherwise, you can look up tradespeople in your area to do it for you.
Job cost: $7,519
Resale value: $6,988
Cost recouped: 92.9 percent
Minor kitchen remodel
While a popular project, a major kitchen remodel will set you back $119,909 on average, with a resale value of $73,707 (only a 61.5 percent recoup on costs). It hardly seems worth it. You're better off investing in a minor kitchen remodel and upgrading a few elements that spruce up the overall aesthetic and provide practical upgrades that improve the day-to-day efficiency of the space.
Job cost: $20,122
Resale value: $16,716
Cost recouped: 83.1 percent
Window replacement
Windows add major style props to your home's curbside appeal and flood it with natural light, not to mention that they improve your home's energy efficiency. The Consumer Reports website helps you choose the best one for your home, and a major thing to note is that price doesn't indicate performance.
Job cost: $14,725
Resale value: $10,794
Cost recouped: 73.3 percent
Roofing replacement
Home Advisor states most roofs last 20 to 25 years, so if yours is nearing this age, you might want to consider a new one. Other reasons include extensive leaking and curb appeal. The latter is why it's worth the money. If you need some free advice, call in the experts at Home Depot, Sears or Lowes.
Job cost: $20,142
Resale value: $14,446
Cost recouped: 71.7 percent