As a homeowner you need to maintain your home as you live in it. But which maintenance projects have a better return on investment compared to others? Studies show that home improvement projects are not only a good investment for homeowners, but that the majority of homeowners are more than satisfied with the overall project. Below is some helpful information to help you make your home improvement budget decisions.
Windows and Doors
- A 2023 Cost vs Value report shows that installing a new steel entry door will recoup 101% ROI when reselling your home.
- A Zillow study reported
- that installing a black front door increases the resale value of your home by over $6,400 on average
- that homes with mid-tone brown front doors sell at least $300 more than homes with white doors
- that white front doors, along with those painted a chalky blue, were associated with higher intentions to tour the home, as well as higher general interest from home shoppers.
- Learn more about steal doors from WMGB Home Improvement >>
Egress Windows
Despite being our nation’s most frequent disaster, many families aren’t aware that they have just two minutes on average to escape from a home fire. With such a short window to protect yourself and your loved ones, preparation is key.
- 353,100 house fires per year between 2014 and 2018. A pivotal feature for emergencies, an egress window provides an alternative route for someone to escape should the worst occur.
- How much value does an egress window add? It depends on your home. They are, however, one of the only projects in which you will fully recoup your cost in resale value. The total cost of installation of an egress window starts around $6000 dollars. However, if you have all the other qualifications for a bedroom (closet and at least 10 ft by 10 ft area) then you can market that as a bedroom when it comes time to sell your house.
- The current average value per livable square foot in Michigan is around $169. That means a 12×12 room will be worth roughly $24,336 in additional value for your home. This for a project that starts at only around $6,000.
- Learn more benefits of egress windows >>
