Market research shows how in 2019 millennial buyers are looking for curb appeal and high energy efficiency. So obviously, the projects with the highest ROI are those which at the same time improve the look of the home and the efficiency. This is why the number one spot goes to new windows and upgraded front doors. But there are also other majorly profitable upgrades. Here is what you should know:
A New Entry
Now there are tons of ways to improve curb appeal. Garage door replacement has an ROI of 98% and planting trees and adding window boxes always helps. However, the most influential one is the front door replacement. If your door is new, then at least consider repainting it or adding decorations such as glass, new front tiles, canopies, and authentic chairs.
The next best things are window replacement or repair. If properly installed and advertised, new vinyl windows can have an ROI of 85% (sometimes even more). This is because quality windows cut energy spending by 15% and add more natural light thus significantly improving comfort. Check your warranties to see whether your windows are reaching their limits since aluminum windows last only 15 years.
Kitchen & Bathroom
New doors and windows will surely add value, but what will the buyers think when they see a leaky bathroom or a dirty kitchen. If possible, do not renovate the whole kitchen or bathroom, just remodel some parts. Repainting cabinets, adding wallpapers and changing the countertops will immediately change the look.
Kitchen and bathroom renovation can have an ROI of more than 100% (if wisely done). This is why smart homeowners add reflective surfaces such as shiny tiles, mirrors, and marble countertops. This increases natural light and appeal. Also, put casement or awning windows in these areas since proper ventilation is a major selling point.
What About The Basement?
Unfortunately, most tend to forget the basement. But little do they know that this, usually moldy, area is the ticking time bomb for making amazing revenues. Besides using a fully furnished basement as space you can rent out, it will also add major sums on your home’s value. And taking care of leaks and mold isn’t that hard as it seems. A simple waterproofing system and a window well can make your basement look like a royal suite.
Even though it hasn’t been that profitable in the past, today roof replacement is very popular amongst buyers. I guess everybody has learned their lesson throughout these years after facing ceiling leaks and extreme mold growth. Check your warranties and do not push the limits of your roof.
If you have asphalt roofing, its lifespan is 20 years and only if you live in ideal weather conditions and regularly clean it. Otherwise, the lifespan is cut in half. Remember that renovating the roof and adding more durable and efficient shingles, on average, adds $12 000 to a home’s value.
About C.A.P.O.R. Renovations
C.A.P.O.R. Renovations is your one-stop solution for Windows and Doors Replacement, Roofing Repairs, Vinyl Siding and Exterior Home Renovation in London.