Home Improvements with a High Return On Investment
Posted On: Feb 03, 2017
Although it may seem like it is always a good decision to invest in your home, some renovations simply cost more than they are worth. When considering home improvements to boost the value of your home, be aware of what upgrades have the highest return value. Surprisingly, it is not always granite countertops or that brand-new marble bathroom that nets a high gain. Consider basic and solid investments that are more necessary than frivolous.
Here are some of the projects with the highest return on investments:
Replacing old siding with fresh vinyl or fiber-cement siding comes with a long-term ROI. New siding adds a punch of curb appeal, and is a functional and recognizable feature. Before making the final decision, be sure to consider the color you select. The best investments are low-maintenance, so even though you may have always dreamed of a white house, you may want to think twice.
With a minor kitchen upgrade, you can typically expect a great long-term ROI. To get the best return on your kitchen remodel, keep your upgrades mid-range. Reface cabinets instead of replacing cabinets, and consider quartz countertops instead of granite. When purchasing appliances, keep them modestly priced and steer clear from the very top of the line.
New insulation may not seem like it would be a huge bonus to a home buyer because it is something you cannot see. Believe it or not, though, you can expect to earn back a most of your investment upon sale of your home. It is becoming more and more important that homes be evaluated based on energy efficiency.
Deck & patio additions
There is nothing like enjoying a meal outside on your deck, or watching your kids play outside from the comfort of your patio. Outdoor areas are fantastic ways to expand living space at a fraction of the cost of adding an internal addition. An outdoor addition typically will net a great return on investment.