Not all home improvement projects are created equal. Some projects will increase the value of the home to you, while other projects may be more focused on increasing the value to others. That said, as a homeowner who is thinking of selling in the future, it is important to prioritize the projects with the highest return on investment (ROI). According to the California Association of Realtors, here are the top five projects that will offer the greatest ROI when you decide to sell.
1. New roof
A new roof may not be the first thing you think about when considering home improvement projects. But, if you’re looking for over 100% ROI, a new roof should be a top priority at 109% ROI. A new roof is especially important if you have had any leaks, cracked shingles, or other damage.
2. Hardwood floors
Gone are the days of green high pile shag carpets. These days, real hardwood floors could easily make, or break, an offer on your home. Refinishing existing hardwood floors brings a 100% ROI while installing new hardwood floors comes in at 91% ROI.
3. New garage door
Installing a new garage door is a fairly simple and inexpensive home improvement project that will bring approximately 87% ROI. A new garage door helps create a positive first impression and adds to the curb appeal.
4. Better insulation
Although better insulation is not something you can see, and we realize it’s not exactly exciting, it will give around 76% ROI. Potential buyers will appreciate the savings (and efficiency) longterm, while also lowering your bills in the short term.
5. New siding
If you’re looking to have your home really stand out while also bringing 75% ROI, you need to consider new siding. Vinyl siding comes in a variety of colors and offers the homeowner the ease of never having to paint again.
Which home improvement projects are you most excited about? Join the conversation in the comments section below.