Thinking about a renovation in your home in Nashville? Renovations are not only a way to improve the home itself, but they’re also an investment into the value of the home. But it’s important to note that not every renovation will you bring you positive returns down the road. That’s why it’s imperative to invest your money in renovations that will pay off for you.

You wouldn’t want to pay for an expensive renovation that ends up adding little to nothing to your home’s value, would you? Probably not. That’s why we’ve put together this guide to help you identify the best renovations you can make for the value of your home. According to data compiled in the 2019 Cost vs Value Report, the following are the best renovations you can make in Nashville.

TOP 10 RENOVATIONS IN NASHVILLE

  1. Manufactured Stone Veneer

Curb-appeal is worth a lot to buyers. Replacing vinyl siding with stone veneer is a huge curb- appeal upgrade for your home. A manufactured stone veneer, while pricey, is much cheaper than a natural stone veneer and it’s even a profit-maker in Nashville.

Average Job Cost: $8,846

Resale Value: $9,467

Cost Recouped: 107%

  1. Steel Entry Door Replacement

Again, first impressions matter to buyers. An attractive entry door will catch the eyes of buyers and installing a steel door for cheap will allow you to profit from this renovation in Nashville.

Average Job Cost: $1,764

Resale Value: $1,838

Cost Recouped: 104.2%

  1. Minor Midrange Kitchen Remodel

Rather than gutting your kitchen entirely and investing in a major remodel, you can create a modern-looking and functional kitchen for less cost. This typically includes replacing appliances, refacing cabinets, installing new countertops, new sink and faucet, new flooring, and repainting. When it’s all said and done, you can get just over 90% of the cost back through this investment.

Average Job Cost: $21,648

Resale Value: $19,630

Cost Recouped: 90.7%

  1. Midrange Bath Remodel

This is an expensive renovation, but updated bathrooms (and kitchens) are what sell houses. We recommend sticking to neutral color palettes and upscale fixtures. This is not as strong of a return on investment as a minor kitchen remodel, but it will still get you about 83% of your costs recouped.

Average Job Cost: $19,299

Resale Value: $16,048

Cost Recouped: 83.2%

  1. Siding Replacement

Old, worn-down siding can make even a nice home look run down. This is not such an obvious renovation people think of when investing in their home, but it makes a big impact on the overall value of your home. Plus, it will only add to your home’s curb appeal.

Average Job Cost: $15,139

Resale Value: $11,489

Cost Recouped: 75.9%

  1. Wood Deck Addition

Decks are not cheap, but if you have a big yard, making a wood deck addition can enhance the value for homebuyers who are looking for space to entertain outdoors. This feature can hold 75% of its value at sale time.

Average Job Cost: $12,534

Resale Value: $9,400

Cost Recouped: 75%

  1. (Vinyl) Window Replacement

New windows are great not just for aesthetic purposes, but they can also keep energy costs down. Buyers want replacement windows and are willing to pay for them. They retain just over 74.1% of their value through the investment.

Average Job Cost: $16,284

Resale Value: $12,066

Cost Recouped: 74.1%

  1. Garage Door Replacement

It should be no surprise that front-facing garage doors have a huge impact on curb appeal. While the national average (97.5%), and even the regional average (94.2%), of return on investment for garage door replacements are higher than Nashville, it is still a decent renovation to be investing in because it adds to the overall value of your house and it’s curb appeal.

Average Job Cost: $3,531

Resale Value: $2,575

Cost Recouped: 72.9%

  1. (Wood) Window Replacement

Again, window replacements are not only attractive but cost and energy-efficient. However, wood window replacements are more expensive than vinyl replacements and yield a slightly lower return on investment.

Average Job Cost: $19,949

Resale Value: $14,432

Cost Recouped: 72.3%

  1. Fiberglass Grand Entrance

Taking your front entryway to the next level by remodeling with a grand entrance and glass side panels. It’s not the best return on investment, but again, it will increase your curb-appeal to catch the attention of a broad range of sellers.

Average Job Cost: $8,735

Resale Value: $6,171

Cost Recouped: 70.6%

Renovate with Donnelly Timmons

Use this guide to help you determine which improvements to your Nashville home will get you the most bang for your buck. Have more questions about home renovations? View our renovations page, contact page, or call us today at 615-456-7983!