10 Home Improvements Under $10,000 That Will Maximize Your Property Value

We all know that owning a home is an investment and that means any renovations we make will make a difference . Whether you’re planning to sell your home soon or just want to keep an eye on what you’ve invested in it, it’s worth considering the return on investment (ROI) of home renovations, especially because not all renovation projects increase your costs. house value .

When it comes to renovations, people tend to think of big, colorful projects like remodeling a kitchen or adding square footage. But in fact, you can make a significant positive impact on the value of your home through small-scale, relatively affordable repairs or cheaper alternatives to costly projects. Here are ten home renovations you can often do for less than $10,000 that will add value to your property.

Install new garage doors

If your home has an outdoor garage door that is a little worn, you can get some real bang for your buck. Garage doors are an important part of your home’s appeal and offer a whopping 93.8% ROI on a job that typically costs between $ 750 and $ 4,000 , depending on the size of your garage and the type of door you have installed. But because of its role in first impressions when people come to look at your home, its “soft ROI” is huge.

Replace old siding

If your home has vinyl siding with stains, cracks, and other imperfections, the good news is that replacing it provides over a 60% return on investment. While the average home remodel cost is slightly over our $11,676 limit , the price range starts at around $6,000 and depends on the size of your home and the product you are using. However, just like garage doors, your siding is an important part of your home’s appeal, so the actual positive impact it can have is likely much higher.

Install replacement windows

Replacing windows is expensive, even if you choose vinyl or fiberglass over wood. But the cost also depends on how many windows you need to replace: Double vinyl windows can cost as little as $825 per window , so it’s easy to imagine this project costing less than $10,000 depending on the size of your home. While vinyl windows won’t be as impressive to potential buyers, every time you can use the phrase “brand new windows” on a property listing, it’s a win. Both vinyl and wood windows offer solid ROIs ranging from 67% to 69% .

Make a small bathroom renovation

You can spend a lot of money converting your bathroom into a spa – an “upscale” bathtub remodel can cost up to $76,000. But you don’t have to spend that much to get a clean, fresh new space and a decent ROI. A small bathtub renovation can cost as little as $6,000 , with an ROI of around 60%.

If a complete bathroom remodel isn’t an option, you might consider adding underfloor heating, which ranges from a few hundred dollars for a small bathroom to the national average of around $3,867. While it’s hard to quantify the ROI on an underfloor heating investment, the cost is low enough to almost guarantee a decent return.

Buy a new front door

Like garage doors, your front door is an important part of your home’s appeal and first impression. Replacing it or upgrading it can add significant value without huge costs. For example, replacing your front door with a high quality steel door may cost less than $2,000 but provides a solid return on investment of around 65% . You can also splash out and install a front entrance with side lights and other features for just under $10,000 and a decent ROI of around 53%.

Add updated devices

Even a minor kitchen remodel can cost between $20,000 and $30,000 and can be as high as $150,000. But small projects like replacing countertops and updating cabinets and backsplashes don’t break the bank. If you’re looking to add value to your home and your budget isn’t in the tens of thousands of dollars, consider simply upgrading your home appliances. According to Zillow , property listings that mentioned high-tech home appliances such as steam ovens or pizza ovens sold 5.3% more. Depending on the size of your kitchen and where you can find appliances, you can probably trade everything in for more expensive models for $10,000 or less .

Install updated lighting

One easy and affordable renovation project is to replace your home’s lighting fixtures with energy efficient LED models. With an average cost of $112 to $286 per light , this project can certainly cost less than $10,000 (it could even be less than $1,000 depending on the size of your home), and according to Zillow, homes with upgraded LED lighting sell for about 1.5% more than requested.

Install a new floor for $10,000.

You might think installing a new floor is too much of a project, but it depends on the scale (how many rooms actually need new floors?) and the material (carpet replacement is cheap). You can replace a rough old carpet for around $300-$500 a room , and while your ROI on this will be no more than 40% , its low cost makes it worth it, especially when you consider the ability to convince potential buyers that they haven’t been buying for decades. your dust stuck in the pile of the carpet.

While installing wood flooring can cost up to $2,000 per room, ROI can be as high as 80%. A good intermediate option is “luxury vinyl” flooring, which looks much better than standard vinyl flooring and costs as little as $2 per square foot, but adds about 1.4% to your home’s selling price.

Paint – interior and exterior

Every homeowner sooner or later learns about the stunning power of paint. Most outdoor painting jobs can be done for less than $10,000 and that adds up to a whopping 152% return on your investment , which is… a lot. Fresh coating inside your home also helps, and the ROI is 107% , which is also high, especially since you can probably paint your house for as little as $6,000 , maybe less as that’s the type of project you really you can do it yourself.

Add Laundry

Adding laundry sounds like an intimidating job, but it really isn’t. Typically, you use the existing space in your home with existing washer and dryer connections, in which case you can build a laundry room for as little as $2,000 or less. However, even a low-cost laundry will bring in a 67% to 78% ROI, so it’s a small renovation that could have been.

Increasing the value of your home is always a good idea, and you don’t have to take out a second mortgage to make it happen. Choose your projects carefully and you can add significant value for a remarkably small investment.