Your home is probably your most valuable asset. And like all assets, it requires some investment to maintain its value. Before you take a sledgehammer to your kitchen cabinets to start a major renovation HGTV style, consider what the best home updates are for resale, as well as your lifestyle.
In general, projects that enhance your home’s curb appeal tend to yield the highest returns in the region. Upgrades that improve functionality and/or decrease utility costs also rank high on the list. The exact percentage of the cost you can expect to recoup varies by city, as well as the current conditions of the housing market.
Ogden 92% | Salt Lake 93% | Provo 95%
Replace door and tracks with a four-section door made of steel with R12 insulation, includes a lifetime warranty.
Ogden 97% | Salt Lake 93% Provo 94%
Remove siding on the bottom third of the facade facing the street, replace with manufactured stone veneer, sills, corners and address block.
Ogden 58% | Salt Lake 79% | Provo 63%
Replace cabinet fronts and hardware, install energy-efficient appliances, upgrade countertops and install resilient flooring.
Ogden 60% | Salt Lake 65% | Provo 73%
Replace dated windows with low-E, insulated vinyl windows, using exterior trim that matches existing interior trim.
*As compiled in the 2021 Cost vs. Value Report
Additionally, the National Association of Home Builders reports that 87% of home buyers want exterior landscape lighting — including walkway lights, spotlights and pendant lights. This is an inexpensive project existing homeowners can complete to enhance curb appeal and increase safety.
The exception to the “curb appeal” rule is creating a grand entrance. This typically yields a 54% ROI in the region. But there are other projects that yield even lower returns. Most are upscale renovations that price out budget buyers or room additions with high construction costs.
Ogden 35% | Salt Lake 42% | Provo 35%
Expand square footage of bathroom, relocate fixtures, replace shower walls, upgrade countertops, install dual sink vanity, etc.
Ogden 32% | Salt Lake 43% | Provo 35%
Add a full bathroom (approximately 6’ x 8’) with single vanity, standard fixtures, medicine cabinet, fiberglass tub/shower combo.
Ogden 28% | Salt Lake 43% | Provo 29%
Add a spacious master bedroom suite (approximately 32’ x 20’) with sitting area, built-in bookshelves, gas fireplace and walk-in closet. Bathroom includes a frameless walk-in shower with dual heads and separate vanities.
Though you may recoup less for certain improvements, it could still be a good investment if it makes your life more comfortable and convenient. For instance, adding a bathroom can be priceless if it eliminates sibling slugfests every morning. Or, if you plan to rent out your home, having a bathroom for every bedroom could make the property more appealing to potential tenants and allow you to raise your monthly rate. Consider your unique situation and speak with a real estate appraiser and/or a remodeling contractor to inform your decision.
Not a do-it-yourselfer? Search the Services category on KSL Classifieds to find local businesses that can put the “pro” in your project. When you’re ready to sell or rent your home, list it on KSL Homes.