Are you ready to give your home a little facelift? We know that remodeling can be daunting, especially when you’re not sure how much return on investment (ROI) you can expect from each project. But don’t worry, we’ve got you covered!
According to the 2023 Cost vs. Value Report, some projects yield a higher ROI than others. Here are some of the top projects based on their percentage of cost recouped.
Let’s start with a midrange bathroom remodel. This project can include replacing all fixtures to include a 30×60-inch porcelain-on-steel tub with 4×4-inch ceramic tile surround, a new single-lever temperature and pressure-balanced shower control, a standard toilet, a vanity counter with integral sink, ceramic tile floor, vinyl wallpaper, and more. This project can significantly improve your home’s functionality and aesthetic appeal, making it more attractive to potential buyers down the line. This has a 54.4% ROI.
Or, maybe you’re more interested in a minor kitchen remodel. This project can involve replacing cabinet fronts with new wood panels and drawer fronts, replacing the oven range and slide-in refrigerator with new energy-efficient models, installing a new sink and faucet, adding new resilient flooring, and more. This project can make your kitchen look more modern and efficient, which can add to its appeal and value. This has a 73.2% ROI.
But why stop there? How about a grand entrance with fiberglass doors? This project can make your home more inviting and memorable, leaving a positive impression on potential buyers. This has an 89.6% ROI.
Or, if you’re really looking to up your game, a siding replacement with fiber cement can significantly improve your home’s energy efficiency, curb appeal, and value. This has a whopping 151.3% ROI.
And if you’re all about sustainability and cost savings, an HVAC conversion from fossil-fuel burning furnace to an eco-friendlier electric heat pump for heating and cooling can do the trick! This has a 103.4% ROI.
These projects can add value to your home and enhance its appeal to potential buyers. But remember, the ROI may vary depending on your location, the quality of the materials and labor, and the current market conditions.
Looking to remodel your home? Check out our Windermere Ready Loan Program to learn about a program that allows Sellers to borrow a portion of the equity in their current home to make improvements prior to selling. These include the remodel projects we just went over and more. Let’s make your dream home a reality!