The #1 Home Update That Gives A 109% ROI

Is your home in the perfect location, with the perfect lot, and you're thinking of listing it on the market but don't know what updates you need to do that will be the best investment? Based on The "Remodeling Impact Report" from the National Association of REALTORS® this one update will bring you 109% ROI. Not all home improvements add as much home equity as you might expect.

Here is the #1 home remodeling project with equity-building power:

#1 New Roof 

Typically a buyer will want a home with a roof less than 10 years old. If your roof is over 10 years old you may want to consider replacing it, especially if you have had any leaks. Worried about cost? We have had several hail storms already this season so contact a roofing company and see how they can help you speak with your insurance to have a new roof put on for pennies. If you don't have a roofer, your REALTOR® will have a few reputable companies to refer to you. If you don't have a REALTOR®, contact me and I will be happy to help you out!

The cost: $7,500 

The return: 109% at $8,150

Considering it’s what’s between you and the elements, it’s a no-brainer. 

Not sure if you need a new roof? Signs you might include:

• Shingles are missing, curling up, or covered in moss.
• Gritty bits from the asphalt shingles are coming out the downspout. 
• The sun’s shining through your attic. 
• You notice stains on ceilings and walls.
• Your energy bill is sky high.
• Your vent pipes are no longer painted or faded.
• Hail damage.

Once you have replaced your roof, make sure and repair any stains you may have on the interior ceilings and walls from previous leaking. 

Bonus remodeling project with equity building power:

#2 Hardwood Floors

Don't you love it when your fave home reno-ing duo is flipping a ranch that’s stuck in the ‘80s and they make it to the living room, pull back the dingy carpet to reveal hardwood floors in GREAT condition? I would be Siked! if I found that kind of treasure under my 2010 carpets. *Sigh*

Hardwood floors are a timeless classic. Refinishing is a no-brainer. Neither will you regret adding new hardwood floors if you have none.

The cost to refinish: $2,500

The return: 100% at $2,500

The cost to buy new: $5,500

The return: 91% at $5,000 

QUALITY MATTERS

By the way, if you are doing hardwood floors, have them done professionally. I cannot tell you how many times in the 21 years of looking at 45 to 50 houses per week, I have come across 'do it yourself' work that a buyer always runs from.  

In a survey from the National Association of Home Builders (NAHB), “quality” was the one of the most important traits that home buyers focused on when house hunting.