Smartest home projects to tackle in the San Francisco area
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Before you tackle that home renovation you've been dreaming or dreading, think about how it could affect your home's resale value.
Why it matters: San Francisco sellers need to rake in all the cash they can if they're leaving record-low mortgage rates.
By the numbers: Eight of the top 10 home projects are exterior changes, from fixing up the garage to replacing windows.
- In the San Francisco region, replacing a garage door or a front door — two of the cheaper projects — costs an average of around $1,400 and $1,600, respectively.
- A minor kitchen remodel will set back Bay Area homeowners nearly $42,000, on average.
The big picture: The type of project you should prioritize depends on how long you'll be in the house, Angie Hicks, chief customer officer of Angi, says.
- If you plan to stay at least five years, go ahead and spring for your dream kitchen.
- If you're selling in the next year, it might be time to roll your sleeves up and tackle less sexy projects (think: finally fixing that leaky faucet).
Reality check: Higher interest rates make tapping into home equity more expensive, Axios' Emily Peck reports.
Be smart: You shouldn't expect to earn every penny back on things like a new roof or A/C unit — today's buyers expect the basics to work, Hicks says.
Here are Hicks' other top tips for getting the highest ROI.
🏘 Consider your neighborhood. If every house has 2.5 bathrooms, you might not need to add a third.
🌷 Invest in curb appeal. Replace your garage door, paint your front door, spruce up your landscaping.
🏠 Neutralize. If you're selling soon, it's not the time for a funky accent wall, it's time for fresh, neutral paint.