There are several ways to maximize the return on your investment (ROI). You can use these tips to determine how much money you and your owners will make once the house is sold. You can earn a lot of money by making home improvements.
Take down some walls.
Most people purchase a new house because they want more space. Ask your contractor if knocking down some walls in your home is the best move. Open-plan living rooms, kitchens, and dining areas will attract modern buyers while bringing in natural light. If the home’s structural support is maintained, knocking down a wall will make it more spacious and attract potential buyers.
Replace the Garage Door
Garage doors are often taken for granted. They only get noticed when they break or stick. It doesn’t matter if the garage door is in perfect working order. Replacing it will increase your return on investment. According to a 2019 study, garage door replacements increased ROI by 97.5%, higher than the average project. Installing a new garage door takes only a few minutes and increases the value of your home.
Garage slabs can sink for a variety of reasons. These include poor drainage and inadequate compaction before construction. They may also settle because they are built on soil that’s not strong enough to support the weight of a structure. If the slab sinking is not connected to the foundation perimeter, then it can usually be leveled by using polyurethane injection. This method is also called ‘slabjacking’.
New Bathroom Features
People are also interested in upgraded bathroom features. The quality of a bathroom can help people to feel as if they’ve left behind their apartment. Bathrooms in the home are more comfortable and customizable. Upgrade to a glass-enclosed shower, and you will see an increase of 67.2% in ROI, no matter what bathroom you remodel.
Replace or Refinish Hardwood Floors
If your hardwood floors need replacing, you may want to consider a new project. The cost of refinishing or repairing hardwood floors is 91% covered by the project, which means that everyone can get their money back. In older homes, the number of feet is a major factor. Many older homes have hardwood floors in the garage because it was used as an additional room. It would be worthwhile to look into something like Milwaukee Concrete Garage Slab Installation if you are looking to convert your garage.
Replace the Roof
Most homeowners do not worry about roofs unless there has been a major storm. However, it’s still a good idea to check them out and replace them if they aren’t working. Replacing an entire roof will recover 105% of the project cost and attract more buyers. When the work is completed, people will be more inclined to invest in a home, and they will have less to do later.
Install a new HVAC unit.
You may want to wait a few weeks during the hottest summer days or the coldest winter days before installing your new unit.
It is bad enough that you have to wait, but the price of a new HVAC unit can be shocking. People will take a house more seriously if the HVAC system is unique. The project is a good one for homeowners. 71% of their investment will be recovered when the home is sold.
Conclusion
You can use the tips above to help you renovate your house.