Springtime Projects and Average ROI
Spring Projects are on deck, what’s the best return on investment?
Home projects and springtime…a match made in heaven
Your hard-earned money deserves to be spent wisely, especially when it comes to home improvements. It’s important to know which projects will give you a strong return on investment if you decide to sell your home. Here’s a breakdown of common upgrades and how they measure up.
1. HVAC Conversion (Electrification) – 103.5% ROI
Upgrading your HVAC system to an energy-efficient electric model offers the highest return on investment, improving both energy savings and appeal to eco-conscious buyers.
2. Garage Door Replacement – 102.7% ROI
Replacing your garage door enhances curb appeal and functionality, offering a nearly guaranteed return.
3. Manufactured Stone Veneer – 102.3% ROI
Adding a manufactured stone veneer to your exterior boosts curb appeal dramatically and is a cost-effective way to modernize your home.
4. Entry Door Replacement (Steel) – 100.9% ROI
Installing a steel entry door improves security and curb appeal, making it a simple yet impactful upgrade.
5. Siding Replacement (Vinyl) – 94.7% ROI
Replacing siding freshens up your home’s exterior and protects it from weather damage, providing excellent value.
6. Minor Kitchen Remodel – 85.7% ROI
Updating appliances, countertops, and cabinets without a full renovation delivers strong returns by modernizing the space cost-effectively.
7. Window Replacement – 68.5% ROI
Installing new windows improves energy efficiency and aesthetics, making it an attractive feature for buyers.
8. Bathroom Remodel – 66.7% ROI
Refreshing a bathroom with updated fixtures, tile, and paint adds value and appeal to one of the most important rooms in the home.
9. Wood Deck Addition – 50.2% ROI
Adding a deck expands outdoor living space, a popular feature, though the return depends on material and quality.
10. Roofing Replacement – 48.9% ROI
Replacing the roof enhances the home’s structural integrity and appearance, appealing to buyers concerned about maintenance.
11. Major Kitchen Remodel – 41.8% ROI
While extensive kitchen renovations can be appealing, they’re costly and may not recoup as much as smaller upgrades.
12. Primary Suite Addition – 30.0% ROI
Adding a new master suite may increase functionality and luxury, but the high costs often outweigh the immediate return.
Keep in mind, this is nationally. For a list of budget friendly projects that will pack a big bang for your buck, email me at brendangail@kw.com.