Home Improvement Projects // bang for the buck

Other than being asked about buying and selling homes, one of our most frequently asked questions are about what home improvement projects to consider and how much value they add. The most common response is to prioritize your home improvement budget to the kitchen and bathrooms. However, statistically per the National Association of the Remodeling Industry (NARI), kitchen and bathrooms actually don’t make the Top 6 in terms of return on investment.

So, from first to sixth:

1. Roof (105%)
2. Refinished Hardwood (99%)
3. Insulation Upgrade (95%)
4. New Floors (91%)
5. Garage Door (87%)
6. Vinyl Siding (83%)

For every $1000 spent on a roof, a seller can expect to receive $1050 back on their investment. Or, they can expect to earn $830 back on vinyl siding. The numbers ran about 60-70% for kitchen and bathrooms …which are still important by the way and worth doing. The take away here is to keep the bones of your home in good repair before looking at new counter tops or appliances. Studs last a hundred years (hopefully), but roofs, siding, floors and doors need attention first. If they are are in disrepair, buyers will walk away

This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.