One thing you should think about whenever you’re planning a home improvement projects is its potential for ROI, or return on investment. Of course, the main reason to do any project is for your own personal wants and needs, but it’s important to remember that the project you do also adds value to your home, which will come into play when it comes time to sell. Of course, some projects add more value than others, but that doesn’t necessarily mean they’ll give you the best return on investment. A kitchen remodel will add a lot of value, but will it return the investment you make? That depends on the scope of the project. Minor kitchen remodels actually have a great potential for ROI. Learn about more projects that generate the ROI you want in this week’s blog.
4 Home Improvement Projects with Good ROI
Wood decks are great for creating an outdoor living setup in your backyard. They also have a great potential for ROI. This is because they add a lot of living area space at a price that is very affordable, at about $30 per sq. ft. Nationally, the average cost for a wood deck is just over $10,000, with an ROI of 80.5%!
Attic conversions are another project that add a lot of value to your home because they increase the amount of usable space. In this case, you can turn your attic into a spare bedroom, study, playroom for the kids, home theater room, or practically anything you can think of. Attic conversions aren’t cheap, averaging around $50,000, but with an ROI of 77.2%, you will make back a good portion of what you put into it.
Replacing Your Garage Door
Who knew that a new garage door had such a great potential for ROI? At 82.5%, you’ll get back a lot of what you invest into a new garage door.
New siding gives your home a whole new look and gives you the opportunity to really transform the exterior of your home. Not only that, but new siding is often more durable, and more energy efficient than old siding, which will save you money on maintenance and energy costs. Siding installation usually ranges from $12-15k. Vinyl siding offers an ROI of 80.7%, and fiber-cement siding of 84.3%.
Stay with us to learn about even more home improvement projects with a great potential for ROI!
Pay Off Your Bills and Remodel Your Home Today
Are unpaid bills and debts preventing you from doing the home improvement projects you need? With a loan from Your Project Loan, you can pay off your bills and tackle projects at the same time! It has never been easier to take on your debt and home improvement projects with just one loan. Contact us today or fill out a simple 60-second loan application to learn more!