Which Remodeling Projects Pay Off?

If you’re thinking about putting money towards home remodeling projects, just remember, your return on investment depends on certain variables. It depends on the value of your home, where you live, the market where you live, the cost of the project, and the quality of your project.

The 10 Best Renovation Options
  1. Project: New Roof ROI%: 109%
  2. Project: Landscaping ROI%: 105%
  3. Project: New Patio ROI%: 102%
  4. Project: Hardwood Floors ROI%: 91%
  5. Project: New Garage Door ROI%: 87%
  6. Project: New Deck (Wood) ROI%: 83%
  7. Project: New Vinyl Window’s ROI%: 80%
  8. Project: HVAC Replacement ROI%: 71%
  9. Project: Kitchen Upgrade ROI%: 67%
  10. Project: Bathroom Renovation ROI%: 58%

Notice cosmetic projects did not make it to the top of the list? It’s not to say that new countertops and an updated bathroom don’t pay off, kitchen and bathroom remodels are always on the top of the list for home buyers, but, buyers are wanting the central systems to be in working order and functioning. These items include the roof, furnace, water heater, etc. If a home has a leaky roof or a mildew smell in the basement, it is likely to deter or scare a potential buyer. Deferred maintenance can be costly and chew up cash very quickly, and buyers are afraid of that.

Your first priority as a seller or homeowner should be the integrity of the structure of the home. To me, it’s more important to resolve maintenance items first, and work on cosmetic upgrades later. Everyone loves a gorgeous, remodeled kitchen, but if your furnace doesn’t work, you’re not going to be happy in that new kitchen.

If you are considering selling or just need an opinion, contact me first! I have an amazing group of contacts and preferred professionals that I use on my own properties and I would love to send you my referrals. It is important to seek advice before taking on any major home improvement’s, call me and I can walk you through the process before you sink too much money into a home renovation.

Thanks for reading! – Nikki Owen, Denver’s Premier Realtor

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