Get the Best ROI on Your Home Renovation
Your home is an investment. You continue to build equity in your home with every mortgage payment. As with any investment, you want to make sure that you are getting a good return. Improving your home with a remodel or addition can add more value to your home, but how much? Where is the best “bang for your buck” when it comes to a home update? They may not be where you think there are! Here are the top three improvements that will net you the most return.
- Hardwood Flooring- Hardwood flooring is timeless, durable, and instantly elevates a space. It brings in beautiful texture and adds a natural element to your home décor. Having hardwood flooring is highly desirable and a big selling point for any home. Some of the areas that benefit from hardwood floor would be living areas, bedrooms, and it can even work well in kitchens. On average, you’ll net around 102% of money you put into the project!
- Garage Door Replacement- Giving your home a facelift with a new garage door can do wonders for your curb appeal! This is typically a fairly inexpensive thing to do and can bring the outside of your home from “Eh.” to “WOW!” in just a few hours and set the stage for what potential buyers may expect to see on the inside. Garage doors do break down, paint can start flaking, and if they are wood, they can start rotting from all the weather they endure. If investing in a new garage door, you can expect around a 90% return.
- HVAC Replacement- While not glamourous at all, having consistent and steady heat or AC are an amazing luxury! Fortunately these units don’t have to be replaced all that often, and you may only do it once when living in a place. A buyer will appreciate not having to worry about new units when looking at a prospective property as well. If you’re home has a really old furnace, putting in a new one could even save you a lot of money just because the new units are so much more efficient! Adding in AC in a home that doesn’t currently have it could also add some value to your home. Doing an HVAC replacement should get you around an 85% return, so it’s well worth it!
Many of the other places to invest that will net you a high return are like these-not the most glamourous or expensive, but can make a home more efficient and cost effective or add some more space to a home. Upgrading your insulation, replacing windows, and even converting your basement into a living area, will give you over a 60% return on investment. Check out the list below for the latest numbers!
While these are great things to do, ensure that you are putting money right where it matters! We can help you determine what projects will help bring the most value to your home for FREE! Whether you are selling your home or just want some advice regarding what projects are best for your home, contact us to set up a free, no-obligation consultation! We also have a huge list of contractors that we trust to do this work!
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