Passionate about helping our community achieve their goals during their real estate endeavors
Five Home Improvements with the Best ROI (Return on Investment)
August 13, 2021
Our homebuyers and sellers are always wondering, how do I get the most out of this investment? How can I increase equity in my home? What home updates will benefit me the most once I sell? Those are all great questions to ask your REALTORS® when buying or selling, so we are going to break it down for you!
In this current market sellers are getting 103% of their asking price when selling their home. In this current market many sellers aren’t having to make the updates that they might typically need or want to do when it comes to selling their home. The market is always fluctuating so it’s important to stay in the know when it comes to improving your home. Here the top 5 improvements sellers are getting a great ROI on:
Garage door replacement: The average homeowner saw a return on investment of 90% when they replace their garage door. Plus, it creates a new and updated first impression on your home.
Manufactured stone veneer: The average homeowner saw a return of 93% on their investment. Partial stone veneers are all the rage right now especially as seen in new construction. Homeowners can freshen up their aging exterior by adding a stone veneer accent to the bottom third of their home.
Steel entry door replacement: The average homeowner saw a return of 71% on their investment. Many homeowners have heard about repainting their entry door which can help bring it to life. But if your door is wooden or is another outdated material you could be in the market for a replacement, plus chipping paint on a door is never a positive for buyers coming through the door.
Window replacement (vinyl): The average homeowner saw a return of 69.8% on their investment. Quality windows are typically built to last 15 to 20 years, if you think it’s time for an update or an upgrade, we highly recommend this improvement. Most of our buyers during showings point out the age of the window if they look newer or seem to be original. This can be a major draw for homebuyers.
Minor to mid-range kitchen remodel: The average homeowner saw a 68.4% return on their investment. If your current kitchen in functional but in need of some cosmetic upgrades this investment is for you! You can keep majority of your cabinets where they are while replacing only the fronts with new wood panels, replacing drawer fronts, and adding fresh and up to date hardware. An updated kitchen will bring in the buyers, take our word for it!
We’d love to help you in your home journey. Click below to sign up for a free consultation so we can learn more and share how we can support you.