There’s no doubt about it: home improvements are a good idea most of the time. The added enjoyment you get out of your house, plus the additional value your home gains—which turns into a higher price when you do eventually sell—all make most home improvement projects worth it.
But let’s face it: not all projects are created equal.
The kitchen and bathroom are the most popular rooms to renovate. They are also the most expensive. In some housing markets and neighborhoods, these are good renovations to make, with a high return on investment. But in others, they only return as low as 50% of their initial cost. So, when considering your future home improvements, think about your local housing market, and ask an agent who specializes in your area.
No matter your area, there are five home improvements that almost universally improve both the homeowners’ quality of life, and have a consistent return on investment.
According to Realtor.com, here they are:
A NEW DECK - 75% ROI
FINISHING A BASEMENT - 70% ROI
A NEW FRONT DOOR - 91.1% ROI
ATTIC INSULATION - 116.9% ROI
PLANT A TREE - infinite ROI
Overall, the return on investment should only be a factor to consider when doing home improvements, and you should always consider how it will improve your quality of life. Our biggest tip is to always seek the advice of a real estate professional who specializes in your area, since they will be the most in-tune with what is best for the local market.