5 Upgrades To Increase Your Homes ROI

Dated: 02/07/2018

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Generally, experts agree that repairs and maintenance are part of homeownership. As such, general repairs usually add little to your return on investment. However, there is a case for preventative maintenance. A study showed that proper preventative maintenance extends the life of many household necessities including your heating, cooling and water systems. This extension means you can spend less on repairs and more on upgrades to maximize the ROI of your home.


Aside from a fresh coat of paint inside and out, here are the upgrades and renovations that return the most at resale:

  1. New roof

Although a new roof may set you back $7,600, you will recoup more than that. In fact, a new roof adds $8,000 to your home’s value at resale. That’s a 105 percent gain. Many homeowners who replaced their roof will tell you that there are easier ways to make $400. So unless you have the money to spend, check out the other ideas on the list first.


  1. Window replacement

Replacing outdated windows pays in many ways. First, energy costs associated with heating and cooling your home decrease. Second, homeowners recuperate 85 percent of the cost at resale on average. This means that an $11,000 window replacement job resells for about $9,400.


  1. New vinyl siding

Adding or replacing your siding is one of the least expensive ways to add and increase the selling price of your home. While replacing your old siding with new vinyl siding costs anywhere from $9,000 to $12,000 on average, homeowners report receiving 83 to 87 percent of what they spent at resale.


  1. Refinished hardwood floors

You will fully recuperate the cost of refinishing your beautiful hardwood floors. The project typically costs $2,500. Studies show that refinished floors add at least $2,500 to home values.


  1. New garage door

For many street facing homes, your garage can make or break first impressions. The average cost of replacing a garage door is $2,300. The replacement usually returns 87 percent at resale. Professionals foresee a hot trend this year in garages with more windows.


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Ron Snow

Ron Snow is the Broker/Owner of RE/MAX Metro where he leads three top producing real estate offices in Bountiful, Layton and South Ogden. Before getting into the real estate industry, he worked for Sm....

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