10 Remodeling Projects with the Best Return on Investment in Charlotte

If you live in the Charlotte area and have been thinking about adding value to your home through renovations or remodeling (especially if you’re planning on selling), here’s some information to help you decide on home improvement projects that can give you the best bang for your buck.

From replacing doors to bathroom remodels - here are some ideas to consider.

10 remodeling projects with the best return on investment in Charlotte:

The Remodeling 2020 Cost vs. Value Report looks at 21 example home improvement/remodeling projects, and by using a combination of industry data and realtor expertise, reports how much each one was worth at resale.

The ten home improvement projects that have the best return on investment in 2020 (i.e. add the most value at resale as a percentage of cost) in Charlotte are:

Manufactured Stone Veneer
Garage Door Replacement
Wooden Deck Addition
Fiber-cement Siding Replacement
Vinyl Window Replacement
Minor Kitchen Remodel (using midrange quality materials)
Entry Door Replacement
Window Replacement (including wooden framing)
Vinyl Siding Replacement
Bathroom Remodel (using midrange quality materials)

If we take the average of the costs recouped for the individual projects under the same category (such as the midrange, upscale, and universal design bathroom remodels), the list of top ten project types break down as follows:

Manufactured Stone Veneer
Garage Door Replacement
Minor Kitchen Remodel
Deck Addition
Siding Replacement
Window Replacement
Entry Door Replacement
Bathroom Remodel
Roof Replacement
Major Kitchen Remodel

10 Remodeling Projects with the Best Return on Investment in Charlotte

Some of this information may be surprising...

But remember, this isn’t a ranking of the projects that add the most value (if it was, adding a new addition would always be first).

Instead, it’s ranking home improvement projects by how much of the cost you can recoup when selling your home.

You can learn more about these projects, such as the scope behind the work, and the dollar values estimated at www.costvsvalue.com.

If you’re looking for homes that already have had renovations or remodeling work completed, check out the list of updated homes for sale on ZeroDown here.

What Does 'Pending' Mean in Real Estate?

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Word of the day

Probate Sale

When someone dies without a will, their house is sold by the state in a process governed by the Probate Code through what is called a probate sale. Usually, an estate representative is appointed by the court, who in turn engages the help of a real estate agent. An appraiser helps to set the listing price of the home. Once a buyer makes an offer, a court appointment is set where bidding takes place. The highest bid wins, and the winner must give a cashier’s check for at least 10% of the sale price. The homes in probate sell for much lower than the market value but also come along with a lot of disadvantages. For one, the buyer gets the home as-is and has no idea about the hidden cost of repairs. Also, the process is really long, and can sometimes take up to a year, after winning the bid, before they obtain possession of the property.

After Cullins died, his house was put on probate sale by the State.

See Real Estate Glossary

10 Remodeling Projects with the Best Return on Investment in Charlotte