When looking at improving your home and investing in renovations, it is always good to keep in mind what your ROI will be. This is especially important if you are considering selling your home in the near future.
Some of the more popular home improvements that you may consider are:
- Remodelling your kitchen
- Adding a bathroom
- Adding a Deck
- Renovating the Attic or Basement
You may also want to consider some “green” renovation options, which may include:
- Upgrading to more energy efficient windows
- Improving or adding insulation
- Adding solar panels
There are some other remodelling options that, while they may be desirable to you, do not actually carry very good ROI:
- Adding a pool
- Luxury home office
- Highend gourmet kitchen
- Adding a sunroom
- Delux / luxury bathroom upgrade
Of all of the options that you have for home improvements, the ones that, if done wisely, have the highest Return on Invesment are a kitchen remodel and a bathroom addition. The kitchen remodel has a potential ROI of 60% – 120%, and a bathroom addition can bring an expected ROI of between 80% – 130%.
While considering selling your home you also mustn’t neglect your basic updates which include cleaning, repairing, and painting. These basic projects are important in making your home more attractive and appealing for potential buyers.
You can find out more details about these options by clicking on the infographic in this post…
Source: Half Price.com.au