If you’re looking to improve your home’s return on investment (ROI), certain home projects and updates can boost your value exponentially. However, it’s important to know which updates will give you the biggest bang for your buck. Here are a few home updates that will help improve your ROI.
New Roof
A replacement roof can yield an 85% return on investment during the sale of your home. New roofs can last for up to 30 years, and a new roof can drastically improve the curb appeal of your home. If you’re looking for an improvement that can boost your ROI, a new roof is a great place to start.
Be on the lookout for signs you’re in need of a replacement. For instance, damaged, cracked or missing shingles, moss growth, and dark streaks are signs that you may need a new roof. As soon as you notice any of these signs, it’s important to contact a roofing contractor.
Updated HVAC Systems
Three-quarters of all homes in the United States have air conditioners which use about 6% of all the electricity produced in the country. This energy costs about $29 billion each year for homeowners. Fortunately, one of the best investments with a high ROI involves replacing your old HVAC system with a more energy efficient one.
New HVAC systems can help reduce energy costs and improve the overall comfort of your home. They also come with a range of technological features that allow you to control and monitor temperature from anywhere in the house or even from your cell phone or laptop. In addition, home buyers will love that they don’t have to worry about replacing their HVAC system for a few years.
In-Home Security
Embezzlement is defined as a white-collar crime when someone steals or misappropriates funds they were supposed to manage for their personal gain. Embezzlement is just one form of theft that you might fall victim to, with other forms of theft including burglary and vandalism. Installing a home security system can help protect your family and your belongings from theft.
Adding a home security system can also increase the value of your home. Homebuyers value the added convenience and peace of mind that comes with a security system, so installing one can help set you apart from the competition. Consider opting for a system that can be monitored remotely, so you can keep an eye on your home even when you’re away. Cameras, motion sensors, and alarm systems are all great additions that can help minimize the risk of theft.
Beautiful Outdoor Space
Outdoor living spaces are becoming increasingly popular, and they can provide great returns on your investment. Whether you’re looking to add a patio, deck, or outdoor kitchen, these features can add significant value to your home. By creating an inviting outdoor space for entertaining guests and enjoying the outdoors, you not only increase the enjoyment of your home but also its overall value. Plus, making simple updates such as adding furniture, lighting or landscaping can further enhance the ROI of this upgrade.
For bigger projects, consider hiring a landscaper or contractor to ensure the job is done correctly. For instance, if you want to add a deck or patio, you’ll want to make sure it’s built from high-quality materials and is properly installed so it won’t need repairs in the future. Other big outdoor projects with great ROI include adding a pool or hot tub, adding a water feature, new paved walkways, and much more.
These are just a few home updates that can improve your ROI. Whether you’re looking to make cosmetic changes or larger investments like new roofing and HVAC systems, it’s important to research which projects will give you the best return on your investment before breaking ground on any project. With proper planning and execution, these home updates can help you increase the value of your home and potentially boost your ROI.
