When you think home improvement do you dream luxury, like a walk-in steam shower or home gym, or do you dream practical like a garage or canned ceiling lights?
Whatever your New Year home improvement goals entail, before you pick up the sledgehammer or put down the deposit, you may want to consider what your ROI (return-on-investment) will really be.
According to Remodeling magazine who just released its annual Cost vs. Value report, the average return on most home improvements is a mere 64% on every dollar.
(They even have a report for the Austin market, where the largest ROI may not be glamorous, but it’s a small project that yields a big return — attic insulation! Who knew? The average cost is $1300.)
Top winners when it comes to putting your money to work for you, according to Remodeling magazine’s report, are:
- Attic insulation
- Curb appeal projects (front doors, garage doors, outdoor lighting)
- (fewer steps, wider doors)
- Outdoor living – Wood decks especially
- Minor kitchen updates (appliances, backsplash, lighting)
BUT if your plans aren’t taking you away from your home anytime soon, and you have the means to put in the infinity pool of your dreams, follow your heart. Home is where the heart is, after all, and sometimes you have to do what makes YOU–and your family, friends and even pets–happy. And it’s difficult to put an ROI on happiness.
Want a SEED agent’s opinion on your home improvement plans? Call or email us today… we will give it to you straight.