Do you look around your house with some grand ideas on home improvements you could make? Whether you’re renovating in hopes of a return on your investment or want something you can just enjoy, check out this list of renovations you won’t regret.
A New Deck
In the winter months, it’s hard to imagine how much joy you will get out of a new deck. Luckily for you spring is just one month away and bar-b-que season will be here before you know it. This improvement makes money sense too. The upgrade has an estimated 70% ROI.
Finishing the basement
This improvement can be a bit costly and take time to finish, but once completed you will be sure to enjoy a whole new level of living space. You can also experience the comfort knowing it has at least a 70% ROI.
New front door
A new door can change the entire look of your home. This will give it a new home feel you will want to come home to. Couple that with 80-90% ROI depending on material and it is a win-win.
Believe it or not, installing new insulation is one of the most comfortable improvements you can make. It has the highest ROI coming in at 107%. That doesn’t even count improved energy savings. Saving money feels good.
If you plan on staying in your home for a few years, consider planting a tree. Planting a tree is affordable and once it matures you can consider it a money tree. It can add thousands of dollars to the value of your home.
Alright, so now you know what projects offer the most bang for their buck. Now let’s look at the 5 worst home improvements sellers can make.
Coming in at number one is Pools. In ground pools are a double whammy. They can cost $20,000-$60,000 and don’t do much for a home’s value. Buyers are often turned off by them due to high maintenance and insurance costs. Although we all want to bring the outdoors in, sunrooms have an ROI of less than 60%. Up next is the decision to pour money into a home office. Unfortunately, that space doesn’t work for you since you only get about half back once it is time to sell. Unless you are going to live in your home for many more years, upgrading your master suite is an easy way to lose about 40% of your money spent. Finally, garages do seem to get full and cluttered easily, but adding more garage space only yields about 69% ROI.
Be sure to stretch your home improvement dollars so you get to both enjoy the upgrades and get a better return when it is time to sell. If you have a different project in mind and are curious about the potential for your return, reach out to your COListings real estate agent today to get their expert opinion.