5 Home Improvements with ROI Over 100%
The best home improvement projects for resale provide a good return on investment (ROI) and make your home more appealing, to more buyers. No need to get fancy here. You might be surprised to learn that the improvements that offer functional upgrades have better ROI at a lower price than you’ll find with luxury upgrades. Below are the improvements that consistently net sellers back their investment and then some, according to studies by Home Light & the National Association of Realtors.
1. Deep Cleaning
Average ROI: 3,650%
Average Investment: $400
Average Profit: $14,600
A buyer’s top priority when viewing a home is that it looks, feels, and smells clean. A professional deep clean will work wonders in raising the value of your home in the eyes of buyers and is undoubtedly worth the investment.
2. Basic Yard Care
Average ROI: 539%
Average Investment: $615
Average Profit: $3,309
Curb appeal makes a big impact! Even minor landscaping updates will go a long way in creating a welcoming first impression for buyers.
3. Refinish or Replace Wood Flooring
Average ROI: 137%
Average Investment: $4,200
Average Profit: $5,750
When in good condition, hardwood floors are a classic selling point, especially with today’s buyers. Refinishing increases the floor’s durability, evens out worn areas, and creates a gleam that will catch the eye of prospective buyers.
4. Install Smart Outlets
Average ROI: 468%
Average Investment: $44
Average Profit: $206
Smart outlets allow you to remotely turn lights or appliances on or off remotely through your mobile device. The combination of convenience and energy efficiency has a big appeal for buyers at a very low investment cost.
5. Fresh Exterior Paint
Average ROI: 152%
Average Investment: $3,000
A fresh coat of paint in a color that appeals to buyers works wonders to give a fresh clean look to a home and will always give you a great return.
Interested in seeing how other home improvements compare? Check out this graph for more intel.