Three Renovations to Maximize Your Return on Investment

Whether due to personal satisfaction or preparing for a sale, many homeowners are carefully considering renovations. While some upgrades are driven by improving energy efficiency, others are dictated by the potential return on investment (ROI). ROI is a good metric for prioritizing your effort. Here are three renovations to consider.

Smart Home Technology

Smart devices can improve energy efficiency to the point of cost savings. Although full scale home automation is rather expensive, smart lights and smart thermostats are affordable entries into smart home automation. They can be programmed in such a way to minimize your electricity costs by running only when necessary. Many include apps that can help you monitor your usage to save money.

Upgrade Your Kitchen

Kitchen remodels can be quite extensive and costs quickly add up. A minor renovation which often includes new flooring, new cabinetry and upgraded appliances may see over 80 percent of the original cost recouped when the hold is sold. In the event that you fully gut the kitchen, you may be able to get up to 60{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} of your original cost on a resale. New appliances also add to the ROI through energy efficiency and a reduction of operation costs on your utility bills, especially for items like refrigerators and ovens. Consult a business for appliance installation Washington DC to explore all your options.

Garage Door Replacement

Garage doors have one of the highest ROIs. This might not be as intuitive as a bathroom or kitchen remodel, but usually, you get back almost 100{ef6a2958fe8e96bc49a2b3c1c7204a1bbdb5dac70ce68e07dc54113a68252ca4} of what you spend when it’s time to sell. If you’re able to get the new door at a discount, you might even make money on this particular item. A garage door replacement may not be the most glamorous, but a reduction in heat loss may result in lower bills.

As you plan for home improvements, consider these high ROI upgrades. Not all renovations are created equal so plan thoroughly and carefully.  Some improvements can be DIY while others require the use of a professional, which should also factor into your upfront costs.