5 Home Upgrades with Great ROI

Are you looking at making changes to your home to increase ROI? While increasing ROI isn’t the sole reason you should make changes to your home, trends, buyer preferences, and the market can dictate the exact ROI you get, and it isn’t always guaranteed; making changes to improve your living arrangements that also have a good ROI can be a strategic move and increase the value of your investment.

So, with this in mind, what are the best areas of your home to invest in for boosted ROI should you sell?

Insulation

More and more buyers are seeking homes that are eco-friendly and well-insulated. If your home is an energy vampire, i.e., a home that significantly increases your energy bills, investing in insulation can be a proactive and responsible choice. Well-insulated homes can yield up to a 117% ROI, making it a significant investment that also enhances the value of your home. Consult with local insulation companies to find the right level of insulation for your home’s needs.

New Kitchen

The kitchen, often considered the heart of the home, is also one of the best areas to increase the value, desirability, and use of your property. A major kitchen remodel can yield a healthy 41% ROI, while a minor remodel can reach the 80% ROI range. Whether you’re starting from scratch, expanding your kitchen, or making updates, the kitchen is a key area to focus on for a significant ROI.

Decking

Decking has the potential to recoup a healthy 50% ROI on your investment. Whether you opt for full coverage decking going around the entire property, having decking installed at the front or in your yard, it can be a great way to boost external aesthetics (curb appeal is an influencing factor here, too) and make your home more desirable to buyers and help you get more money back for it if selling is on the cards for you.

Siding Replacement

With a whopping 94.7% improvement ROI, replacing the siding on your home, if you have it, is possibly one of the best investments. You can make this change work for you by recouping 94% of what you spend to replace siding once you put the property up for sale. Worn and tired siding doesn’t look good, and bringing it back to life to improve the curb appeal and make your home look good externally will make potential buyers look more favorably on the property as a whole and more likely to buy at the asking price.

Roof Replacement

A well-maintained roof is invaluable, not just in terms of ROI but also in providing a sense of security and protection. If your roof is nearing the end of its lifespan (this can be anywhere from 15 years to 50, depending on the construction, the environment, and the materials it’s made of), consider replacing it to preserve the integrity of your home. A new roof can yield just under a 50% ROI, a testament to the value it adds to your property and the peace of mind it provides.