What type of return can I expect for upgrading my home?
DIY is great for small projects, but don’t be afraid to call in the experts for big jobs!
Doing home improvement projects can be a great way to increase the value of your home, and may result in some extra cash in your pocket when you’re ready to sell. But not all upgrades are created equal. Take a look at these home updates that can get you a hefty return on your investment (ROI). Check with your Nest agent to get an idea of how an update would impact your home value in current and future market conditions. The exact amount will depend on the value of your house, but here are some ballpark ROIs:
- up to 106% ROI: new wood flooring
- up to 102% ROI: minor bathroom remodel
- up to 100% ROI: landscaping
- up to 98% ROI: minor kitchen remodel
- up to 95% ROI: exterior improvements (siding, paint, entry)
- up to 94% ROI: garage door replacement
- up to 90% ROI:deck, patio, or porch addition
- up to 90% ROI: basement remodel
- up to 89% ROI: window replacement
- up to 85% ROI: HVAC replacement
- up to 83% ROI: upgrade insulation
- up to 65% ROI: roofing replacement
- up to 50% ROI: adding a new bathroom
- up to 40% ROI: upgrading living room walls and floors
Sources: National Association of Realtors and Remodeling.net
We shared this Making the (Up)Grade article with you in the spring/summer 2021 issue of NEST Magazine. To view the full issue, click here.