Some changes you make on your home add value and some not so much.
According to Remodeling magazine's 2023 Cost vs Value report, you get the most value for outdoor projects. Think new siding, entry doors, and garage doors.
One of the highest return on investment comes from energy efficient changes. Install an electric heat pump, instead of HVAC oil or gas heat. Invest in Energy Star window that trim heating and cooling costs by 12 percent. Tax credits are available for this type of project, too.
A laundry room adds value. About 86 percent of buyers want a dedicated laundry room. According to Kiplinger, costs to install range from $1,300 to $15,000, depending on location and finishes.
Nice backyards with patios are in demand. Outdoor spaces are one of the most desired features, with 86 percent of home buyers saying they want a patio.
Professionally installed exterior lighting has a glamorous edge. It also adds a safety feature. Costs to install range from $2,000 to $6,000, but 82 percent of buyers love this amenity.
Garage storage space acts as a sort of bonus room and 81 percent of buyers want this feature. Install storage systems, tool storage, electric circuits, and peg wall board.
