As we enter the first few weeks of 2022—on the heels of a soaring housing market—the residential remodeling sector is booming. Harvard University’s JCHS projects that annual improvement and repair expenditures by homeowners could reach $400B+ by Q3 2022.

If you’re like many homeowners and considering renovations, the highest ROI remodeling projects in Philadelphia per Remodeling Magazine are the following:

1. Manufactured Stone Veneer. A recent study found that homes with high curb appeal sold for 7% more than those with poor curb appeal. Installing a stone veneer boosts curb appeal and translates to money at the closing table with a 93% cost recoupment.

2. Garage Door Replacement. Investing in a new garage door enhances buyers’ first impression of your property and allows you to recoup 90% of your capital outlay.

3. Minor Kitchen Remodel. A minor renovation (including appliances) enhances a key selling point at an average cost of $27,777, while adding $18,589 of value or 66.9% cost recovery.

Ultimately, the choice to renovate, buy, or sell a property is yours, and I’m here to help. Whether you’re a first-time buyer, motivated seller, seasoned investor, ambitious agent, or anywhere in between, I look forward to working together!

– Leron Grossman, Real Estate Broker & Investment Expert
VictoryRealEstateLLC.com | Office: 215-709-0909

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