When it comes to increasing the value of your home, not all home updates are created equal. Whether you plan on selling your home soon, or simply want to spend wisely on home improvements, read on for some home updates that give you the best ROI.
The statistics and experts all agree: replacing an old front door with a new steel one is a great investment that increases curb appeal, energy efficiency and the value of your home. In fact, it offers some of the best ROI of any home improvement project. This little upgrade won’t break the bank, and is both fast and easy to do, costing only around $2,000, including installation. If you’re looking for a last-minute upgrade to your home before listing, A brand new steel front door could be the perfect choice.
To get the most bang for your buck, and to sell your home quickly, the best home improvement projects should center around keeping your home well-maintained and energy efficient. Potential buyers will shy away if your home has a leaky roof, no matter how nice the kitchen looks. Before you tackle any major remodeling projects, spend your money on replacing the windows, roof and siding. They may not seem as glamorous as new granite counter-tops, but these home maintenance projects can give you a 90 percent return or more when you sell.
[bctt tweet=”A fancy kitchen won’t mean much if the roof leaks. Focus on home maintenance first.”]
Kitchen and Bathroom
In a hot housing market, splurging on a modest kitchen or bathroom remodel can offer great ROI. Just make sure to spend your money wisely — a simple “face-lift” with new paint and appliances will usually give you a better return than an expansive remodel, and a state-of-the-art chef’s kitchen won’t mean much to buyers if your home is worth only $175,000.
If you plan on selling your home, make sure to focus some time and money into curb appeal. A house that looks great inside won’t appeal to anybody if they aren’t inspired by the exterior. Lanai and patio additions, especially in Hawaii where everyone can enjoy the outdoors year-round, are a great investment, and can make a flat house much more appealing. They are also a fraction of the cost of building an addition to your home. A well-designed and maintained yard will also give you a great return, and can cost thousands less than interior remodeling.
It may seem counter-intuitive, but the home upgrades that give you the best ROI are not the most expensive. A new front door, some landscaping and a fresh coat of paint will often go much further than a complete kitchen or master bedroom renovation.
Photo by larkandlarks