When it comes to home improvements, it's important to consider not only the enjoyment and functionality that the updates will bring to your home, but also the potential return on investment (ROI) that they may bring when it comes time to sell.
Here are some of the most popular home improvements and their potential ROI:
1. Kitchen updates:
A modern, updated kitchen is a major selling point for many homebuyers, and can bring a high ROI. According to HomeAdvisor, the average ROI for a minor kitchen remodel (which includes new cabinet fronts, countertops, and appliances) is around 82%.
2. Bathroom updates:
Like a kitchen update, a bathroom remodel can also bring a high ROI. The average ROI for a bathroom remodel is around 62%.
3. Adding a deck or patio:
Adding outdoor living space is a great way to increase the value of your home. The average ROI for a new deck or patio is around 72%.
A well-landscaped yard can make a big difference in the appeal of a home. The average ROI for landscaping is around 100-200%.
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5. Energy-efficient updates:
Making your home more energy efficient can save you money on utility bills and potential ROI of specific home improvements.. The average ROI for energy-efficient updates is around 50-85%.
It's important to keep in mind that ROI can vary depending on a variety of factors, including the specific updates being made, the local real estate market, and the overall condition of the home. It's always a good idea to consult with a real estate professional or contractor to get a better understanding of the potential ROI of specific home improvements.
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