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Written By Ellie BrooksPublished 01/23/23
When it comes to home improvement projects, most homeowners want to know which projects will give them the best return on their investment. Renovating and furnishing even a single room is an expensive undertaking. If you’re trying to increase the value of your home on a reasonable budget, it pays—literally—to be choosy about which home improvement project you take on.
So where to start? A modernized kitchen? A refreshed patio? A new roof? Below is Liberty Home Guard’s list of the top ten home improvement projects that offer the biggest returns on investment.
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Modernizing your kitchen can be a great investment. A contemporary aesthetic, efficient appliances, and improved functionality and comfort are some of the reasons for a significant ROI for home improvements in kitchens. Real estate professionals are more likely to appraise your home at a higher value if the kitchen reflects in-demand contemporary stylings. It’s possible to recoup 80% or more of the cost of your remodel upon selling your home.
In addition, modern kitchen appliances are highly efficient, enabling you to save on energy costs from month to month. There’s also something to be said about having a more enjoyable place to cook and entertain. While it’s hard to put a price tag on comfort and convenience, they are notable contributors to the return on your investment.
Updating your bathroom is another way to get the best return on investment. Home improvements on bathrooms can practically pay for themselves should you choose to sell your home. It’s not uncommon for homeowners to pocket 70% or more of the cost of the remodel.
With the right design, materials, and craftsmanship, a bathroom can provide long-term value and satisfaction. After all, you spend time in your bathroom every day, and a pleasant, well-designed space to prepare for the day or unwind in the evening is an absolute essential.
Repainting your home's exterior is a great way to increase the value of your home as well as improve its curb appeal. It also adds a layer of protection against the elements, which can save you money on home maintenance over time. The cost of repainting an average-sized home can be anywhere from $2,000 to $6,000 or more, but you can expect to recoup more than half of this cost if the paint is in good condition when you sell your home.
You can also consider repainting or retouching interior spaces. Paint alone is reasonably priced, and you may be able to repaint an entire room by yourself in the space of a weekend.
Updating your home's landscaping increases the value of your property and improves the overall look of your home. Well-placed and manicured trees, shrubs, garden beds, grasses, rocks, and decorative elements make your home more attractive, increase curb appeal, and make it easier to sell.
The return on investment of landscaping can be substantial. It’s estimated that properly installed landscaping can increase the value of your home by up to 15%. Shade cover can also reduce energy costs, and you may find that trees and shrubbery reduce noise pollution from streets and neighboring homes.
Installing new windows will help you save money on energy costs, as the new windows are designed to keep the cold air out during the winter and the hot air out during the summer. More efficient glass will make your home more comfortable year-round and reduce your monthly energy bills. You’ll realize savings over time while living in your home and when selling your home when you move.
Refinishing your floors can be an excellent way to increase the value of your home. Restored floors, whether wood, tile, or some other material, refresh your home’s overall appearance and aesthetic. New floors are also more durable. These benefits invite potential buyers and increase your home’s value.
Replacing your roof or siding with a more modern material—or simply new material—can dramatically improve the look of your home. It also protects your home from mildew, wood rot, mold, water damage, pests, and other common nuisances. Depending on your home and materials, the ROI for roof replacement or siding upgrades can exceed 100% of the cost.
Replacing your home's garage door is one of the most cost-effective ways to add value to your home. It adds curb appeal and increases the energy efficiency of your home. A new garage door can also provide extra security and may help to reduce noise from outside. Homeowners can expect to recoup up to 85% of the cost of materials and installation.
Adding a fresh coat of paint, replacing any damaged boards, and installing new furniture or accessories can transform your outdoor space and make it much more attractive to prospective buyers. A significant factor is the increase in square footage of living space.
Redoing your deck or patio doesn’t have to break the bank. With a few simple and inexpensive upgrades, you can easily create an outdoor space that will be the envy of your neighbors.
As more and more professional workers choose to work remotely, home offices have never been more popular. Consider wiring a spare room to accommodate phone and internet connections. Add some soundproofing to reduce outside noise. A plug-and-play office space is a huge draw for prospective buyers, and it doesn’t cost much to create.
Liberty Home Guard's home warranty coverage is an invaluable asset for anyone undertaking a home improvement project. With one of our plans, you can be sure that any major appliances that you purchase for your project will be covered if they break down or malfunction.
Use our website for a free quote. You can also call (866)-432-1283 to chat with the Liberty Home Guard team.