While the trendiest and sexiest home improvements garner the most attention on today’s popular TV shows, more mundane home improvement projects tend to be a better investment.
As of October 2015 The National Association Of Homebuilders (NAHB) estimates Americans spent over $326 billion on home improvement projects. The National Association Of Realtors (NAR) asked members to rank projects based upon expected value at resale time.
In the NAR survey the following home improvement projects received some of the the highest expected return investment on investment (ROI) in the opinion of REALTORS.
Interior Projects:
– Refinishing hardwood floors – 100% ROI
– Upgrading Insulation – 95% ROI
– New flooring – 91% ROI
Exterior Projects:
– New roof – 105% ROI
– New garage door – 87% ROI
– New vinyl siding – 84% ROI
One of the most popular renovation projects – a complete kitchen overhaul – was estimated only to have an ROI of 61%. Most home improvement projects are not undertaken with the thought to their resale impact but for the enjoyment and pleasure of the homeowner which is really what it is all about.
Wallingford PA Real Estate – Wallingford, PA 19086
