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What upscale renovations can you recoup the most costs for?

What upscale renovations can you recoup the most costs for?

revelpix/iStockphoto.com

(Photo credit: revelpix/iStockphoto.com)

Sometimes when you go shopping, you decide to go with a higher quality product or material in hopes that it’ll last longer.

That same mentality can be applied to home renovations and not only may it last longer, but paying more now may give you more money later when it comes time to sell your home.

When deciding on home renovations, it’s in your best interest to go ahead with jobs that will benefit your lifestyle, but will also add to your resale value.

Each year, Remodelling magazine weighs the cost of a reno job to the value it adds to your property. If you take on one of these three upscale jobs, you won’t be disappointed with the value it’ll add to your property when it comes time to put it on the market.

  1. Siding replacement (foam-backed vinyl)

Your home’s siding acts as a crucial barrier to protect your home from the elements and to help preserve the property, but it also plays an important role in a potential buyer’s first impression of your home. There are many different siding materials you could use: wood, composite, cedar and vinyl. The advantage of vinyl siding is that it’ll require very little maintenance, besides a yearly cleaning with soap and water. The job will cost you $15,184, including factory trim and at all openings and corners, to replace 1,250 square feet, according to Remodelling magazine. When it comes to sell, this reno will boost your value by $11,790, which means you recoup 77.6 per cent of the reno costs.

  1. Garage door replacement

If you don’t like how your garage door looks, it may be time to replace it since it’ll slightly bump up your home’s value. If you replace a 16×7 foot garage door with one made out of high tensile strength steel with ½-inch insulated glass windows, which comes with a lifetime warranty, it’ll cost you $2,944, but you’ll recoup 82.5% of that cost ($2,429) when it comes time to sell.

  1. Siding replacement (fiber-cement)

If you prefer a sleeker look for your home’s exterior, you might decide to go with a composite siding material made out of fiber-cement. While this type of siding requires some painting to be done and special cutting tools, it is fireproof, rot-resistant and it’ll hold the paint colours for longer. If you replace 1,350 square feet of siding which is factory primed and painted, it will cost you $14,014, but you’ll be able to recoup the majority of the job’s cost (84.3%) since it adds $11,816 to your home’s value.

Rebate4U can help you figure out whether the renovations you’ve done to your property make you eligible for an HST housing rebate. Our priority is to provide our clients with the most professional and quality service in obtaining rebates for their new and renovated homes. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.

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