Some home improvements yield a higher return on investment than others, and before you remodel your home for comfort or resell you should consider the value the improvement will add to your home.
A fresh coat of paint is about one of the best home improvements and a high return on investment. In fact, you can expect the return rate to be as much as two times your investment.
An outdated kitchen not only takes from the comfort of your home, many homebuyers won’t consider a home with an outdated kitchen unless it is priced at least $50K below market value. Homeowners can expect a kitchen improvement to yield about 85 percent return on investment. Experts claim the best means to maximize your return on investment is by limiting the cost of the project to 20 percent of the value of your home.
Like the kitchen, an outdated bathroom will turn homebuyers away, making this another home improvement project with high returns on investment. The typical bathroom upgrade will yield about 80 percent of your investment.
Decks add comfort and appeal to a home and are a great home improvement project to investment in with a return of as much as 80 percent. Homeowners can expect to pay anywhere from a few thousand dollars to tens of thousands of dollars.
Siding that is in bad shape should be replaced unless you plan on selling your home “As Is”. Siding typically costs about $10K for an average sized home and will yield a return of no less than 80 percent.
Window replacement will update the home, lower energy costs and add to your resell value. The typical return on investment in a window replacement improvement is at least 70 percent.