How to choose the right home upgrades
If you’re contemplating a home improvement, it can be helpful to know which projects give you the highest Return on Investment (ROI). Keep in mind though, while you may want to focus your efforts on more valuable upgrades, don’t totally discount others if you plan on staying in your home for a while. Here are some of the most profitable home improvements:
Without a doubt, kitchen and bath remodels are the most valuable investments, bringing in ROIs often exceeding 100%. In fact, an additional bathroom offers more than twice the return as a new bedroom! (Pioneer Glass, our sister company, can help with a brand new shower enclosure and mirrors.)
Some improvements pay off more than others
Refinished wood flooring
By refinishing your hardwood floors, it’s possible to recoup 100% of the costs. However, installing brand-new flooring has only a slightly lower return.
Energy efficient windows
Besides increasing the value of your home, energy efficient windows save you heating and cooling costs throughout the year. Even better, install energy efficient cellular shades, too, for even more savings.
First impressions are everything
When painting the interior of your home, concentrate on high-traffic areas like your kitchen and bathroom. If the exterior of your home has ever been painted, you’ll need to repaint before you sell – but touch-ups may be enough.
Wood deck addition
While the value of a deck varies by region, wood decks typically bring in the highest recoup value nationally – although, composite decks recoup only slightly less. Just remember that a wood deck requires a lot of upkeep.
As a general rule, if your home is already in good shape, focus on projects that will improve its appearance. First impressions are everything!