When it comes to home improvement, upgrades may have a better ROI than homeowners think

If you’re like many people 50 or older, your biggest asset may not be your 401(k) or IRA. It’s your house. And if you’ve been thinking of cashing out to downsize or move to a less costly region, you’ll want to maximize your gain through strategic home improvements.

That means laying out money to give the place the curb appeal it needs to sell quickly and at the highest possible price — which can be money very well spent.

According to the 2016 Remodeling magazine Cost vs. Value survey, the average return on home-improvement projects was 6.7 percent higher than it was a year earlier, handily beating the inflation rate of 1.4 percent.

Simple replacements can give you a better return than major remodeling projects — about 4 percent more, on average. Manufactured stone-veneer siding and front door replacement, for example, have better returns on investment than kitchen and bath projects.

Returns will vary by region. Where home prices are high and job growth is strong, you can count on a higher payback, says Craig Webb, editor of Remodeling.

Nationally, the average return at resale for the 30 projects surveyed was 64 percent (up from 62 percent in 2015), or $64 for every $100 spent, assuming the home was sold within a year.

9 Improvements Worth the Money

(Percent of the project you recoup, on average)

Best Home Improvement with Positive ROI’s
  • Insulate the attic: 117% ROI

  • Replace the entry door: 91% ROI

  • Refresh the kitchen: 83% ROI

  • Get new siding: 75% ROI

  • Build a wood deck: 75% ROI

  • Replace the roof: 72% ROI

  • Remodel the basement: 70% ROI

  • Add a family room: 68% ROI

  • Renovate the bathroom: 66% ROI

[Source: AARP.org ]

You might also like

3 Things To Know About The Health of Your Roof
28 Feb, 2024
As we embrace the new year, it's the perfect time to give your home the attention it deserves, starting from the top - your roof. At The Big Fish Contracting Company, we believe in not just building roofs but ensuring they stand the test of time and weather. Let's dive into some key insights to keep your roof in prime condition.
17 Jan, 2024
What Is Cellulose Insulation? Blown-in Attic Cellulose Insulation. Sustainable. Affordable. Energy Efficient. The Safest Solution For Homeowners
17 Jan, 2024
Understanding GAF Roofing. Exploring GAF Roofing. Your Guide from Top Roofing Contractors. Excellence in Durability. The Advantages of GAF Roofing.
More Posts
Share by: