The McLeod Team: ROI Home Project Assessment Guide

Are you considering making improvements to your home but unsure which projects will offer the best return on investment (ROI)? Look no further! The McLeod Team at Remax is here to guide you through the most common home projects in 2024 and the average percentage of ROI sellers can expect to receive.

1. Kitchen Renovation

• Average ROI: 60-80%
• Description: A kitchen renovation is one of the most impactful upgrades you can make to your home. From modernizing appliances to updating countertops and cabinets, investing in your kitchen can significantly boost your home's value.

2. Bathroom Remodel

• Average ROI: 70-85%
• Description: Transform your bathroom into a luxurious retreat with a remodel. Whether it's updating fixtures, adding new tile, or expanding the space, a refreshed bathroom can appeal to potential buyers and increase your home's marketability.

3. Deck Addition

• Average ROI: 65-90%
• Description: Enhance your outdoor living space with a deck addition. Whether you're looking to entertain guests or simply enjoy the outdoors, a well-designed deck can add both functionality and value to your home.

4. Curb Appeal Enhancements

• Average ROI: 80-100%
• Description: First impressions matter, and enhancing your home's curb appeal can make a significant difference in its value. Simple upgrades such as landscaping, exterior painting, and updating the front door can yield high returns when it comes time to sell.

5. Energy-Efficient Upgrades

• Average ROI: Varies
• Description: Investing in energy-efficient upgrades such as installing solar panels, upgrading insulation, or replacing windows and doors can not only lower future utility bills but also increase your home's appeal to eco-conscious buyers.

6. Roof Replacement

• Average ROI: 60-70%
• Description: Ensure your home is protected from the elements with a roof replacement. While it may not be the most glamorous upgrade, a new roof can offer peace of mind to potential buyers, enhance your home's overall appeal, and makes the home more available to financing, opening up a larger pool of buyers.

7. Minor Kitchen Upgrades

• Average ROI: 80-90%
• Description: Not ready for a full kitchen renovation? Consider making minor upgrades such as painting cabinets, updating hardware, or replacing countertops. These budget-friendly improvements can still make a big impact on your home's value.

Disclaimer: ROI percentages may vary based on factors such as location, market conditions, and the quality of work.

Investing in home renovations can be a smart way to increase your property's value and appeal to potential buyers. By focusing on projects with high ROI, you can maximize your investment, enjoy the benefits of a more valuable home, and sell for top dollar, whenever the time does come!