Which projects to focus on for higher resale value
Part I: Think Refresh vs. Remodel
Getting ready to sell your home? This can be a stressful time for many. Especially when deciding which home improvements and upgrades to make for a higher resale value.
Big renovations usually don’t equate to resale ROI
You may be tempted to start shopping for new carpet, upgrading appliances, or adding an outdoor kitchen to help your home sell for a higher price. But these projects (and many others) may cost you more money than you’ll recoup in the sale.
In fact, the latest 2017 Cost vs. Value Report by Remodeling magazine, data shows that very few large renovation projects provide a positive ROI in resale value. When making improvements to your home, you can’t normally expect to get 100% or more of your money back, but it is important to look at the return value and expectations for your market when considering selling your home.
Before you spend any money, consult a professional realtor who specializes in your area for advice on what, if anything, you should invest in.
Home improvements - ROI chart for Frisco and Dallas, TX area
| Project | Job Cost | Resale Value | Cost Recouped (ROI) |
| Entry Door Replacement (steel) | $ 1,378 | $ 1,691 | 122% |
| Garage Door Replacement | $ 1,681 | $ 1,605 | 95.5% |
| Manufactured Stone Veneer | $ 7,616 | $ 6,055 | 79.5% |
| Minor Kitchen Remodel | $ 19,526 | $ 15,565 | 79.7% |
| Major Kitchen Remodel (Upscale) | $ 119,808 | $ 73,783 | 61.6% |
| Bathroom remodel (Midrange) | $ 17,483 | $ 10,475 | 59.9% |
| Deck Addition (Wood) | $ 9.963 | $ 6,833 | 68.6% |
*Chart above is condensed from 2017 Cost vs. Value Report for Dallas Region. Full project report can be found here.
Home Improvements: think ‘refresh’ versus ‘remodel’ for higher pay off when selling your home
So, if large renovation or remodel projects typically don’t end up in a higher sales price, what can you do to increase your resale value?
The answer is a little elbow grease and a focus on smaller projects that will make your home more appealing to appropriate buyers. And, it helps you walk away with more cash in your pocket.
About Judi Wright – Trusted Real Estate Expert
With over 50 years of experience in the Dallas-Fort Worth area and 23 years as a Real Estate agent, Judi is one of North Texas’ most trusted and accomplished real estate professionals. As an award-winning Top Realtor, she has built a reputation for excellence, integrity, and personalized service throughout Collin, Dallas and Denton counties (and beyond). Judi treats every client like family and works hard to deliver an experience worth recommending. References and testimonials are available upon request and Judi would be honored to earn your business.
