While homeowners may dream of pulling off some nifty renovations in their kitchen, putting in a hot tub or maybe pulling together an awesome entertainment center, a new report by the National Association of Realtors® (NAR) finds that homeowners’ money would be better spent on other features.
For NAR’s 2015 Remodeling Impact Report, Realtors ranked home improvement projects based on expected value at resale (without accounting for project price). Results revealed that the interior project predicted to yield the biggest bang for your buck is right under your feet: your floors. Refinishing hardwood floors will essentially pay for itself—an estimated 100% return on investment, according to Realtors.
Other renovations that ranked high on ROI include insulation upgrades (95% recovered), new wood flooring (91% recovered), and converting a basement to a living area (69% recovered).
The report also found that renovations on a home’s exterior can also pay off in spades. According to Realtors, home buyers love a new roof, which will reap 105% of your costs at resale, followed by a new garage door (87%), new vinyl siding (83%), and new vinyl windows (80%). Click to read more of this post from Judy Dutton for Realtor.com.
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