8 Home Projects with a High ROI
Summer gives us warmer and longer days, but it is winding down. Many contractors and other pros often find this time of year a little slower, as many homeowners are waiting until fall to tackle big interior projects, which means that you’ll have an easier time finding the right person for the job.
These eight projects are designed to add value to your home, without breaking the bank at the same time. Tackling them now will make your home more comfortable for the coming months, while ensuring that you can get maximum ROI when the time comes to sell:
1. Fix Window Leaks
Air gap around your windows could be driving your air conditioning bill up higher than it needs to be this summer. Old or leaking windows can cause you to lose as much as 20% of the energy you use to heat and cool your home, which can also make it less comfortable as well. There are two ways to fix window leaks: installing new replacement windows, or installing weatherstripping around your existing windows. While both will help you save money on your energy bills, replacement windows will also help you recoup about 73.9% ROI at time of resale.
2. Basement Remodel
Remodeling your basement is a great way to increase your existing living space, without the hassle or expense of a major addition. Basements are often cooler in the hot summer months than the rest of the home, so remodeling can help you gain more usable living areas during this time of year. A basement remodel featuring things like waterproofing or french drain installations can also recoup you about 70% at time of resale.
3. Bathroom Remodel
Bathrooms are among the most frequently used rooms in the home. During the humid summer months, older bathrooms can often become home to things like mold and mildew, which makes now the best time to start remodeling. A bathroom remodel, including all new fixtures, shower, and ceramic tile can recoup you around 64.8% at time of resale, while making your home healthier and more functional at the same time.
4. Add Attic Insulation
Another way to help lower energy costs this summer is to add some insulation to your attic. Most homes are underinsulated, particularly in this area, which can contribute to higher energy costs. Insulating your attic will make your home more comfortable, while saving you money on your AC bill this summer. Best of all, attic insulation recoups a whopping 107% at time of resale.
5. Build a New Deck
Enjoy more time spent outdoors this summer on a new wood deck. Decks increase your usable outdoor space, make entertaining easier, and have a rate of return at around 71.5%. Start this project early in the summer to make the most of your new space before fall.
6. Replace Your Roof
After a long winter filled with ice dams, your roof may be in poor condition and in need of replacement. Don’t wait until summer storms send water pouring in through your ceiling; have your roof taken care of at the start of the season to ensure that it’s in good condition for the rain to come. A new roof will help you recoup about 68.8% at time of resale as well.
7. Replace Your Siding
Siding is just as important as your roof when it comes to both protecting your home from the elements, and to giving it its curb appeal. The nicer weather of the summer makes this the ideal time of year to take care of this important project. Replacing your siding can recoup you as much as 76.4% at time of resale. Replacing your siding can also help you take care of other issues such as rotting fascia, and can improve the appearance of your home at the same time.
8. Universal Bathroom Design
Universal design is one of the newest trends that’s recouping costs in a big way. In many cases, universal design costs less than a complete bathroom remodel, but can make your home easier to sell because it appeals to a wider group of people.
For even more detail, visit (Source: REALTOR)