ROI
Return on Investment – Really Over Imagined
Home remodeling and your Return on Investment – you may be surprised where you’ll get the biggest bang for your buck!
For 2023, the national averages are indicating the correlation between the amount of your investment versus what you’ll see in home value, and the top category is actually Exterior renovations.
Yes, it’s your home’s curb appeal. Features like new siding and landscaping show an ROI often in the
90th percentile. These are fantastic numbers if you’re planning on selling your home in the near future. But what if you want to stay in your home for at least another 10-15 years?
The highest ranking interior changes that can create up to a
You may ask, what does mid-range mean? It can include some functional changes but is more often cosmetic.
THINK OF SURFACES
Bring in an up-to-date color palette by painting the walls and/or cabinetry, replacing countertops, replacing carpeting or refinishing wood flooring. Add some bling and new finishes by replacing old lighting and plumbing fixtures.
However, to really increase functionality in your home, major renovations are often needed to ensure that your home will keep pace with and support your lifestyle. The immediate ROI on these changes can be up to 48% but if you have a plan to stay in your home forever these are worth more than the investment.
They include:
- Major kitchen remodels, where the footprint changes, maybe by annexing space from the unused dining room or adding an addition to create a larger, more functional kitchen for entertaining family and friends. This often includes new appliances that are phone-app ready to respond to your needs and cabinets with interior features like hydraulic lifts for your heavy appliances.
- Luxury bathroom remodels to create your personalized spa experience. Features include radiant heated floors, jetted tubs and shower systems, all programmed to fit your schedule and temperature preferences. And cabinetry to indulge you – how about a towel warmer drawer?
The possibilities are endless.
In terms of lifestyle, comfort, and the ability to remain in your home, one of the most valuable long-term investments is the addition of a ground-floor primary bedroom and bathroom suite.
These improvements are for YOU, not the next owner of your home, so when you are ready, let’s talk!
