Whether you’re thinking of selling your home now, soon or many years from now, it’s wise to consider the return-on-investment value of your home improvement projects. As your Houston real estate team, we’d like to provide you with a list of the most popular remodeling projects that also yield the best return on investment (ROI)!
These consistently change, so this list is what is best for upping the value of your home now, based on what industry experts see most of. See which project your home could benefit most from:
- Refinished hardwood floors – This project costs $2,500 on average, and homeowners can recover 100 percent of the costs! It can make an outdated home look new and fresh.
- Upgraded insulation – This project will cost you around $2,100, and homeowners can recover 95 percent of the cost.
- New wood floors – If you don’t have wood floors to refinish, adding new wood floors could cost you up to $5,500, but homeowners can still recover 91 percent of the cost.
- New HVAC system – According to AATempco Air Conditioning & Heating, a new system will cost you around $7,000. You can recover up to $5,000 for the project, and you will save money on your energy costs.
Are you looking to make a major overhaul to your home? Here are projects that will cost you more, but will still yield impressive returns on investment:
- Converted basement – It will cost up to $36,000 to convert a basement to a living space, and it can yield a 69 percent ROI.
- New master suite – This will cost upwards of $112,500! You can recover up to 53 percent of the project.
- Converted attic – Convert your attic into a living area and this will cost you around $65,000. The ROI is typically around 67 percent.
- Kitchen renovation – Upgrade your entire kitchen and it’ll cost you around $60,000, with a 67 percent return.
- New bathroom – Remodel your entire bathroom and you’ll pay around $50,000, with a 52 percent recovery.
Based off these numbers, which project sounds most worth it to you? Which could your home use most, and which can you afford? Take these numbers into account when choosing your next home improvement project.
When ready to sell your home, or when ready to buy, contact us, your local real estate team! We are here and ready to help you achieve your goals in the Houston real estate market.