You’re not remodeling your home exclusively for the purpose of reselling it. Usually you want to do it because you want it to look better or add more functionality.
But, you’re probably considering how you will resell your home in the future. And if you do, what can you expect to get back on various projects you choose to invest in?
Here’s a rough guide on how that works:
- Improved Landscaping
All right, so this isn’t an interior remodeling project. But if you’re looking purely at return on investment, improving your landscaping is the top way to improve the equity in your home.
As you suspect, it improves your curb appeal fast. And people (right or wrong) judge the inside of your home based on the way it looks on the outside.
While most projects don’t pay for themselves in terms of return on investment, improving your landscaping gives you a little more money than you invested in the first place once you sell (usually a few percent).
- New Roof
No one wants to move into a home that needs a $15,000 – $25,000 roof in a year or two. Missing shingles, gritty shingle bits in your gutters, and a sky-high energy bill can all indicate it’s time for a new roof.
Just like improving your landscaping, replacing your roof actually puts more money in your pocket than you invested in the first place.
- Kitchen Remodel
There’s so much you can do in your kitchen today. With nearly limitless customization available, you can not only create the kitchen of your dreams, but the kitchen of someone else’s dreams too.
When you resell your home, you can expect to recoup 90%, or even more, of what you invest into your kitchen.
- Hardwood Floors
Hardwood floors are a timeless classic. They’ve made American homeowners happy for more than a century.
And they’re still in style today.
When you replace your hardwood floors, you can expect to recoup 90-100% of your investment. That makes them a sound remodeling decision in nearly every case.
- Deck or Patio
“Outdoor living” has become a major trend over the last decade or so. If you’re the outdoorsy type, but not the one who wants to go camping, you’ll be happy to know you’re highly likely to recoup what you invest in a deck or patio – and even a little bit more.
There’s so many features available that you can make your outdoor living space an amazing place to relax.
- Vinyl Siding
Vinyl? Yes, vinyl. Today’s vinyl isn’t like the old stuff. It’s fade-resistant, and you can transfer the lifetime warranty it comes with.
So, you don’t have to paint. And it boosts your curb appeal.
Investment wise, you can expect to get about 80% of what you spend back when you sell your home.
So remember, every project you do for your home has a return. And now you have a rough idea of what each project can give back to you when you’re ready to sell.