Best ROI on Home Projects?
Every year Remodeling Magazine publishes research on the average return on investment (ROI) on 20 popular home projects in 149 markets across the US. The 2018 report found overall you make back only about 56% of the money spent on renovations. This is down from the last two years where the expectation was at 64%. Of course the ROI varies with the project. In the New England markets, new garage doors have the highest ROI at 99%, followed by siding replacement at 80% and vinyl windows replacements at 75%. Enhancing curb appeal provides higher payback than interior projects.
Spending money on a house does not mean it automatically goes up in equal value. Putting on a $10k roof won't increase the worth of a home by $10k. Buyers expect to purchase a home with a roof that has a reasonable life expectancy. There is a difference between maintenance and enhancement. Bottom line, if you are thinking of selling, replace or repair is better than adding rooms or doing major remodels. Contact me for sound advice on where to spend your money when getting ready to sell! 603-526-4116, Donna@DonnaForest.com, www.DonnaForest.com