04 Sep Home Improvements With High ROI
Have you been thinking about starting a home renovation project? As you make improvements to your home, it is always important to consider the return on investment that those improvements will generate when you are ready to sell. According to the National Association of Realtors, the following are some of the home renovation projects with the highest return on investment, otherwise known as ROI.
- Roof – By adding a new roof on your home, you could receive a return of over 100%. New roofing is often appealing to homebuyers because roofs should be replaced every 20 years.
- Hardwood floors – Adding new hardwood flooring in your home provides an average return of 106%. The timeless nature of hardwood flooring makes it extremely attractive to homebuyers.
- HVAC – Heating and cooling system updates, especially those that are energy efficient, can provide a return of around 85%. Buyers will love the idea of a lower energy bill and a new system.
- Vinyl siding – Updating vinyl siding on a home can provide an ROI of around 60%. Curb appeal is the home’s first impression to a buyer, so making sure it’s updated is key.
To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment.
Are you interested in purchasing a home in the Fort Lauderdale area? Fairway Fort Lauderdale would love to help! Call us today to set up an appointment where we can discuss your home financing options.