Major home renovations for ultimate ROI
If you’re looking to get the ultimate bang for your buck in terms of return on investment (ROI), think big. Before you plan and budget your projects, though, do some research on home values in your area. Avoid “over improving.” For example, it’s easier to recoup the cost of a $15,000 kitchen improvement vs. a $60,000 one. These home improvements will give you the greatest returns:
- Remodel your kitchen.
- Need more than a coat of paint? Add new cabinets, countertops, flooring and appliances.
- Consider adding an island, pantry or other storage areas.
- Add or remodel a bathroom.
- One-bathroom homes can be harder to sell. In our region, Zillow estimates about a 60% return on a mid-range bathroom addition, HGTV estimates an 80% to 130% ROI.
- A minor bathroom remodel might earn you a 100% return according to HGTV.
- Replace your windows.
- Replacing your windows can make your home more energy efficient, saving you money now.
- You can recoup up to 90% of your costs when you sell your home according to HGTV.
- Finish or remodel your basement.
- Enjoy more living space while you’re in your home and recoup much of the costs when you sell your home.
- Update your home’s exterior.
- Repaint or update your home’s siding.
- Replace worn or outdated columns.
- Remodel your porch to improve curb appeal.
Find help funding your projects
Call a Cinfed branch or make an appointment to visit in person. Let us know what kinds of projects you’re planning and we’ll be happy to help you determine if a personal loan or home equity line of credit could help bring your vision to life.