5 of the Best Return On Investment (ROI) Home Improvements for 2021
Whether you’re flipping, building, or renovating a home, it’s important to know that your investment will be worth. This applies to you now, especially if you live in the home you’re renovating, but also for any future buyers or tenants. We’ve listed 5 of the best home improvements that ensure ROI to help sway your decisions towards a more profitable direction.
Adding a Deck
Decks are one of the most functional additions to your home that increases ROI. A deck actually acts as a new living space and will add to your property tax and assessed value. Whether you choose a wooden deck, composite deck, or any other material, you’ll maximize your outdoor space. The best part about this ROI home improvement is how cost-effective it can be. Depending on the material you choose and size, you can build one that’s up to code on a tight budget.
Replacing the Garage Door
It’s incredible how much changing one piece of your home’s exterior change update its curb appeal. Replacing the garage door is beneficial to you and prospective buyers because no one wants to live with a faulty, outdated garage. This is one of the absolute best ROI home improvements possible, recouping nearly 98% of the investment. Not only isn’t it simply a good idea to have a working garage door, but it also gives you the opportunity to change the style of your home to something more modern or traditional.
Remodelling the Kitchen
Kitchens are often considered the heart of the home. Remodelling the kitchen in your home is a must when looking to increase the resale value. But that doesn’t mean you have to get the most expensive or latest-and-greatest appliances. New flooring, counters, cabinets, and fixtures can be done economically. You can expect to recoup around 77% of the investment, which definitely makes kitchen remodels one of the best ROI home improvements.
Painting the Interior
When it comes to low-cost home improvement, giving your rooms a fresh coat of paint is one of the least expensive options that has a profound impact on resale. While it doesn’t directly affect the resale value of your home in the way that deck additions or remodelling does, it does make an impact on potential buyers. Buyers don’t want to see scratches, dents, and dings on your walls when browsing through photos or walking through your home. They want it to look and feel as if it’s brand new.
Taking Care of the Landscape
Curb appeal matters. Whether it’s for yourself or to impress buyers, your home should look great at first glance. Taking care of the landscape is a great low-cost ROI home improvement because all it takes is a bit of weeding, planting, and mowing. You don’t have to create a garden maze or plant anything exotic, stick with local varieties that a flowering now. Your home will feel happier and more inviting for everyone else looking from the street.