Here Are the Top Renovations for Maximum Return on Investment

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Are you planning to sell your home this year? Have you wondered what home renovations will get you the most return on your investment? Regardless of how long you’re planning on staying in your current home, it’s smart to be aware of which home renovations add the most value. Here’s a few things to consider if you’d like to get the most bang for your buck.

New Roofing. The exterior of a house is the first thing buyers see when searching for a home. Upgrading your roof or siding will ensure your home leaves a great first impression. Cost to complete a new roof: $7,500. Return on investment: $8,000. ROI total: 107%

New/Refinished Wood Flooring. If you have older hardwood floors and they are showing signs of wear and tear, now is a great time to get them refinished before buyers view your home. Showcasing clean and fresh hardwoods will ensure you get a top-dollar return. Cost to complete: $4,700. Return on investment: $5,000. RIO total: 106%

HVAC Replacement. HVAC doesn’t have the curb appeal as new siding but prioritizing energy efficient upgrades will make your house more attractive to buyers and drive a high return on your investment. Cost to replace: $8,200. Return on investment: $7,000. ROI: 85%.

New Vinyl Siding. Similar to a new roof, new siding will give your home a fresh and clean look so you have the best looking house on the block. This curb appeal will draw buyers in before they even get a chance to step inside. Cost to complete: $15,800. Return on investment: $10,000. ROI: 63%.

While there are other things, you can do to boost your home’s value, it’s important to talk with one of our experienced Shorewest, REALTORS® before starting any of these tasks. They will be able to narrow down which one of these home renovations will be right for your home.


Categories: First Time Home Buyers, Real Estate News, Real Estate Tips, Shorewest Tips

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