It seems like every time you turn on the television these days, you catch some reality show that features a contractor coming in and fixing up a home for some deserving family. But most of us aren’t going to be lucky enough to run into the cast of Kitchen Crashers or Fixer Upper. If you’re thinking about investing the time and money to improve your house, then you obviously want a high return on your investment. Here are five home improvements that can really make a difference when it comes to your home’s bottom line (https://www.totalmortgage.com/blog/homeowner-tips/5-home-improvement-projects-that-pay-back-the-most/33237).
- Get a new roof—This one doesn’t sound as cool or sexy as some remodeling jobs like installing a deluxe shower with multiple showerheads and a soothing fire element. But the best return on investment is replacing your roof. According to one report, an $8000 investment in a new roof can actually make you money with a 105% increase in the value of your home.
- Refinish your hardwood floors—Coming in second on the best return on investment is refinishing your hardwood floors. An investment of about $2500 can get you back 100% of your money.
- Install new insulation—This one might not get you all your money back, but adding ten inches of insulation to your attic space will net you 95% of your $2000 investment. But this one will also save you money each month on your power bills by keeping the house better insulated.
- Install wood floors—Coming in at a 91% return on investment is getting rid of your old carpet and replacing it with hardwood floors. This one will usually cost about $5500. Although you won’t get back all of your money in a resale, hardwood floors are a great selling point that will probably help your home sell faster.
- Get a new garage door—The garage door is one of the most dominant features of your home when seen from the street. So if you want to improve your curb appeal, consider upgrading to new garage door. This one will cost a little over $2000 but net you an 87% return on investment.