Homeowners choose to remodel their homes for many reasons. For some, it is to add value and prepare for eventual sale of their home. For others it is because it looks outdated and they want a different look.
Homeowners choose to remodel their homes for many reasons. For some, it is to add value and prepare for eventual sale of their home. For others it is because it looks outdated and they want a different look. For some, the home does not have certain features that they would like so it is out of necessity. But, with just about any home renovation a homeowner would at least like to see a decent return on their investment. Even if the primary purpose of the remodel is not to add value to their home, the last thing they want to do is drain thousands of dollars into their home only to lose it when they sell their home. Additionally, some renovations are made to improve energy efficiency but if that does not translate to savings on utility bills it may not feel like a worthwhile investment. When home renovations are done well and completed properly by an experienced and licensed contractor or handyman, they can provide significant ROI. Below are 5 home renovations that have the highest return on investment.
5 Home Remodel Projects with the Highest Return on Investment
- Landscaping Upgrades
- Your home’s landscaping is the first thing someone sees when they visit their home and, as we all know, first impressions do matter. HouseLogic estimates that a landscape remodel will provide approximately a 105% return on investment when done properly. That does not mean you have to gut your landscape and start over, even basic upgrades like flowering shrubs, a new paved walkway, some planters and trees will add value to your home.
- Adding Insulation
- If your home was not built fairly recently, the insulation in it may be inadequate due to deterioration or never being there in the first place. Insulation helps your home be more energy efficient which saves big money on utility bills. Remodeling recently released its annual report that details how much ROI you can expect for a given renovation and adding insulation is the #1 home improvement you can make for maximum ROI. They estimate that a homeowner will recoup approximately 107% of their investment!
- Kitchen Remodel
- Kitchen remodels will always be one of the best investments a homeowner can make. The kitchen is often the heart of the home and whether you intend to live in the home with a more beautiful kitchen or you want to renovate to sell, a kitchen remodel is a great investment. According to Remodeling, homeowners will recoup about 80% of their investment in a minor kitchen remodel.
- Bathroom Remodel
- Who wouldn’t love a spa-like retreat in their own bathroom? Now you have more reason to pull the trigger on that bathroom remodel you have always wanted! Bathroom remodels are very popular because they add beauty and value to your home. Remodeling notes that a homeowner can recoup nearly 65% of their investment in a bathroom remodel.
- New Windows
- Many homes do not have energy efficient windows and that is literally like money flying out the window. When windows are not energy efficient air gets out or in through crevices. And, if they are not energy efficient dual pane windows they allow more sun and thus heat into your home as well. Remodeling notes that a homeowner will recoup almost 74% of their investment in new windows for their home.