Home renovation, in its very sense, should be a positive thing. When you do a home improvement, you could only expect to profit from this when it's time to sell your home. However, some renovations are better than the other and their profitability vary from year to year.
In Remodeling Magazine's 2015 Cost vs. Value Report, they identified the 5 best home renovations to invest your money in this year as reported by Realty Times:
Roofing replacement
Among the home renovations, a roofing replacement is among the ones that can give you the biggest bang for your buck this year. It has risen in value at 5.9% for the past year from 2014 to 2015. And when talking about roof repairs, it could mean installing new shingles with underlayment, flashing, galvanized drip edges and trim.
Garage door replacement
Your garage door could enhance your curb appeal that could attract potential home buyers. If you think that your garage door already needs to retire, then you should consider a garage door replacement soon. There are four basic types to choose from (swing-up, roll-up, swing-out or side-sliding) and depending on the material, a new garage door would be a nice addition to your home's curb appeal. This replacement could cost around $1,150.
Steel entry door replacement
Replace your old entry door with a steel door and add elegance to your curb appeal as well as improve your home security. The best thing about this home improvement is that it is the least expensive in 2015's cost-to-value projects at an average of $923 yet promises the highest resale rating.
Vinyl siding replacement
Costing around $5,600 and $8,000 or depending on your location, a vinyl sliding replacement is among the more expensive home renovations. But, you can expect a significant improvement in your home's resale value as it greatly takes your house's look and vitality to a higher level and also improves the weatherproofing and energy efficiency of your home which could be attractive for potential homebuyers.
Fiber glass entry door placement
Like steel, a fiber glass door entry offer superior strength and durability in comparison to traditional wood doors. In terms of cost-to-value ratio, a fiber glass door replacement has increased 72% over 2014 which makes it a favorable home investment this 2015.
