Getting the most value from your Raleigh home renovations

Whether hiring a contractor or doing it yourself, making renovations to your home is one of the most satisfying parts of home ownership, and one of the best ways to add value to your property.

However, not all additions are created equal, and some home improvements offer a drastically higher return on investment from the value added to viability on the housing market.

"Home renovations allow homeowners to update and personalize their property to achieve the look and feel that they wanted but perhaps couldn't initially afford when they purchased their home," said Armand Lenchek, a real estate broker with Coldwell Banker Howard Perry and Walston. "And, while they can certainly take on any project they desire, it's important to know if and how that investment will benefit them in the long run."

The front door is not only one of the first things people notice about your house, but it's also the source of the highest return on investment.

"The best way to grab a buyer's attention is to catch their eye at the curb," Lenchek said. "Adding a new front door or refreshing the paint on your siding and shutters will help to spruce up your home and create curb appeal that beckons buyers inside to see more."

Entry doors and garage doors score well because they are relatively cheap, easy to remove and replace, and make a strong first impression on the person viewing the home. You will find that the key to a high return on renovation investments will be similar projects that offer a significant change in style, feel or space, without needing entirely new additions or wall construction.

Finding a creative way to add another bedroom, perhaps in the attic or basement, is another way to significantly increase the value of your home without a serious construction project.

While it might sound great to add a completely new room to a home, large projects like that tend to be too costly for a high return on investment for the homeowner.

"Larger renovation projects tend to add up, making it hard for homeowners to recoup the money they put into those upgrades when it comes time to sell their home," Lenchek pointed out. "If a return on investment is key, blowing out a wall to build out additional square footage may not be the best plan."