ROI Home Renovation Projects
While all home renovation projects help boost your home’s curb appeal, not all are equal in overall return on your investment costs. Even if you are not sure you will sell your home in the future, taking the steps to boost your equity and increase your home’s value can help with your security as a homeowner. Keep reading below to learn our top 8 suggestions for home renovation projects in Grand Rapids that have the highest return on investment costs. These projects don’t have to be expensive or invasive to provide you with benefits in the future.
New Entry Doors
Your entryway can be considered one of the main focal points of your home, as it is the first thing guests will see when entering your space. When your doors are chipped, damaged, or just worn out, it can leave your home lacking curb appeal and may even create an overall uninviting space. Adding new doors is not only important for increasing your home’s value but this new addition can help to attract potential homebuyers. New entry doors are also a great way to add in a pop of color to your home’s aesthetic.
Replace and Upgrade Windows
If you are noticing drafts from your windows or an increase in your energy bills, it may be time to consider upgrading your windows. The overall cost of this project is difficult to generalize, as prices can depend on the size of the job and any specific materials. Some homeowners prefer windows that have a stunning curb appeal while others opt for something energy and insulation focused, like a storm window. It’s common for people to avoid having their windows replaced due to fear of high material or installation costs. On average, homeowners can expect around an 80% return on investment for this type of project.
Kitchen and Appliance Upgrades
Similar to an entryway, a kitchen is truly one of the main focal and gathering points in a home. This is an area where functionality and organization are crucial, as well as utilization of the square footage. In addition to functionality, visual aesthetics are important especially if you are looking to put your home on the market. Potential homebuyers are often extremely focused on the kitchens and what projects need to be done to ensure it meets their needs. Making upgrades on cabinets, layouts, and appliances is a great way to ensure a high ROI and that you will catch any potential buyer’s attention.
Additions on Porch/Deck
Once a porch or deck is installed, many homeowners will forget that this space can be improved and maintained to ensure longevity. Even if your deck or patio has been installed for years, you can add on additional square footage so there is more space for family and friends to enjoy. If you are looking for a smaller project with less commitment, staining or upgrading current materials can also help to catch a potential buyer’s eye and increase the overall value of your home. Creating an inviting outdoor space is important when it comes to real estate and what potential buyers are looking for in a new home.
It’s great to keep your yard maintained and regularly mowed, but with the unpredictable seasons in Grand Rapids, it can be difficult to complete these jobs on a regular schedule. Reaching out to a professional landscaping team for assistance with gardening, edging, and overall help with utilizing your current outdoor space is an easy way to ensure your yard is appealing to potential buyers. While indoor space is important when it comes to assessment and overall value, having a yard that is already maintained will be one less project for a potential buyer to worry over.
Issues with roofing can be a nightmare for homeowners, which is why keeping the materials clean and clear is crucial for overall functionality. When moss or debris starts to build upon the roof, it can lead to damage to the shingles or leaks in the roof itself. This is when things can become expensive and overwhelming for homeowners, especially if the home is on the market. Choosing to replace and upgrade roofing materials will not only provide you with peace of mind but will also appeal to potential homebuyers as one less intimidating project that will need to be completed.
When your HVAC system becomes old or outdated, it can be difficult to feel reliable in the functionality and longevity of the materials. This could mean that during the hot summer months in Grand Rapids or even the harsh winters, you could be left without a solution to maintain a comfortable temperature in your home if the system fails. This is not only a stressful inconvenience, but it can also deter potential buyers away for fear of upgrade costs. On average, replacing these systems is affordable and can cost around $10,000 per project with an 80-90% return on investment!
New Garage Doors
Similar to entryway doors, garage doors are one of the first portions of your property that guests and potential homebuyers will see when visiting your home. If your garage doors are damaged or worn out, it can create an eyesore in the front of your property and decrease the curb appeal. The cost for new garage doors is typically affordable and is easy to install as a DIY project. Completing this simple project can boost the aesthetic of your home and create a return on investment as high as 75%!