Home Improvement ROI (Return On Investment)
Posted by USA Exterior on 4/27/2021 to Home Improvement
For most of us, our home is, if not our biggest investment, a significant one. Why then, don’t
we treat it that way? Do you constantly monitor your home value like you do your 401K? Do
you sometimes wake up thinking about how you can move some money around to raise the
value of your home? Most of us don’t, which is strange because there are multiple simple ways
to increase the value of your home - and home improvements don’t merely add to your net
worth, they also enhance your quality of life.
Your home is your castle, your haven, a space that should bring you comfort and enjoyment…
and believe it or not, focusing on you and what will make you happy in your home will also add
to its value. Of course, there are the monster projects like additions or guest cottages and
swimming pools but we are going to give you some simple cost-effective projects that will
optimize your quality of life while adding value to your home.
There are two ways to think about home improvements:
- ROI (Return On Investment)
- Economically Sense i.e Cheap and Easy.
We agree with Zillow’s top three ROI home improvements:
- Garage door replacement
- Cost: $3,600
- Resale: $3,520
- Recoup: 97.5%
- Cost: $8,907
- Resale: $8,449
- Recoup: 94.9%
- Cost: $22,507
- Resale: $18,123
- Recoup: 80.5%
Now let’s take a look at cheap and easy home improvements that don’t cost an arm and a leg,
most of which you can do yourself with a little sweat equity.
- Curb Appeal! Curb appeal is a broad topic that includes everything from brightening up your mailbox to planters, walkways and a freshly painted front door. See our previous blog for a more detailed description of Curb Appeal.
- Replace windows or add shutters. Windows are constantly improving both in terms of form and function, aesthetic and utility and in today’s market there are some stunning windows that provide both excellent security and insulation. Shutters are a simple addition that have the potential to totally transform the look of your home!
- Lighting. Like windows, home lighting is in constant transition and the newer designs add style and better illumination to your home, adding comfort and value.
There are endless possibilities from large to small that can simultaneously transform your home into your castle while significantly increasing your resale value:
• Add a pool
• Bathroom remodel
• Smart home technology
• Interior paint
• Add a gazebo
We wish you all the best of luck in your home improvement journey! Most importantly, have fun with it and enjoy.