Is your home a smart investment or money pit? If you are like many homeowners the answer to that question may change from day to day. That is especially true if you are considering major home improvements.
Improvements increase your enjoyment as you live in your home but some, like swimming pools, may have little or no additional value when you are ready to sell your home. Others have a relatively high ROI (Return on Investment) because of the buyer perception of these improvements.
So where should you invest if ROI is your goal? According to our friends at Angie’s List, these home improvement projects will get you the most bang for your buck. While none return 100% of the investment, some come pretty close. And if you are going to live in your house for a few more years, why not enjoy your home?
Garage door replacements: 98.3% ROI
The garage door is one of the biggest (literally) and most noticeable improvements you can make, especially given the prominence of many garages on newer homes.
Replacing a dated, dented or dirty garage door boosts your curb appeal. And for a more rustic or natural style consider high-end garage doors, such as oak or cedar out-swinging styles.
Entry door replacements: 91.3% ROI
The front door is the gateway to the rest of the home and sets expectations and prepares for visitors for what awaits beyond the door. A worn or dated entryway lowers expectations, planting a seed that the rest of the home is poorly maintained or outdated. Set the tone with a luxurious and welcoming entryway.
Siding and facade improvements: 76.7% ROI
Chipped, broken, missing, dirty or dated siding makes any home look run down and may be contributing to higher utility bills. It doesn’t seem to matter if you choose vinyl, fiber cement, or foam-backed vinyl, each of these materials consistently leads to increased resale value.
Kitchen remodel: 81.1% ROI
Modern families live in the kitchen. Even if they frequently bring in take-out, this room is at the center of the action. That’s why the kitchen is gets so much attention from homebuyers. Also, because it is so integral to everyday living many homebuyers prefer a house where the kitchen work has already been done.
So give yourself the kitchen of your dreams today, and enjoy the benefit of higher resale down the road. Solid surface stone countertops are extremely popular right now because they will look beautiful today and for years to come. New flooring also offers an instant visual upgrade. Try finding ceramic tile, laminate plank or resilient, waterproof plank to pair with marble or granite countertops.
Bathroom remodel: 70.1%
Nothing makes a home look and feel outdated faster than a bathroom with 1960’s tile and fixtures. Unless you are going for that mid-century modern feel, giving your bathroom a makeover can completely transform how you (and others) feel about the room.
Pair modern tile patterns and waterproof flooring with distinctive faucets, multiple shower heads and unique soap dispensers in order to give the room an updated look. Don’t overlook lighting! Bright lighting will create a fresh, pristine bathroom scene.
The bottom line
The best improvements are those you can enjoy as you live in your home and that add value when you are ready to move on.
Need help finding the right floors for your home improvement project? Tish Flooring brings samples to you! Call (317) 879-TISH (8474) or schedule a free, in-home consultation online.