The smartest home projects to tackle in the Seattle 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: Seattle-area 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 with the highest return on investment are exterior changes, like fixing up the garage and replacing windows, according to Angi, the home services website.
- In the Seattle region, replacing a garage door — one of the cheaper high-ROI projects — cost around $1,430 on average, per Angi's data.
- A minor kitchen remodel will set back Seattle-area homeowners about $33,250 on average, while ranking third on the list of best bang-for-your-buck projects.
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 (like 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 AC 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.