In Honor of National Home Improvement Month, Here Are The Home Improvements With The Best ROI
May 16, 2018
Home renovations are a great way to make your home more livable. But if you’re thinking about selling your home anytime in the future, you want to know you’re going to be able to get back at least some of your investment when you put your house on the market. But which renovations are going to give you the most bang for your buck?
In honor of National Home Improvement Month, let’s take a look at the home improvements you can make that will not only make your home better, but will give you a decent ROI. According to the 2017 Remodeling Impact Report from the National Association of Realtors® (which evaluated 15 different home improvement projects to gauge how much of each project’s initial cost was recovered), there are eight home renovations that will recover at least 60% of their value:
Hardwood Flooring Refinish
Cost: $3000
Estimated Cost Recovered: $3000
Percent of value recovered: 100%
New Wood Flooring
Cost: $5500
Estimated Cost Recovered: $5000
Percent of value recovered: 91%
Insulation Upgrade
Cost: $2100
Estimated Cost Recovered: $1600
Percent of value recovered: 76%
HVAC Replacement
Cost: $7475
Estimated Cost Recovered: $5000
Percent of value recovered: 67%
Basement Conversion to Living Area
Cost: $40,000
Estimated Cost Recovered: $25,000
Percent of value recovered: 63%
Complete Kitchen Renovation
Cost: $65,000
Estimated Cost Recovered: $40,000
Percent of value recovered: 62%
Provided by Lighter Side of Real Estate
