4 Home Remodeling Projects with the Highest ROI
Ask
any homeowner about what they would like to change about their home, and most will say, “How much time do you
have?
Home
improvements (cue Tim Allen) or home remodeling projects can stem from a
variety of motivations, like preparing your home to put on the market, adding
space for a growing family, addressing outdated features or aesthetics, or
fixing structural/functional issues with the home.
However,
when it comes to home remodeling projects, too many people assume their project
will proportionally increase the value of their home. Few actually consider the
complete scope of return on investment (ROI), taking into account not only
potential impact on resale value but also the total costs of time, labour, and
materials. Some renovations may provide more “quality of life” ROI by improving
comfort and aesthetics without significantly impacting resale value, while
others can deliver notable financial returns.
Whether you’re looking to upgrade your living space, increase the equity of your home, or trying to make some quick changes to improve your resale price, here are four remodeling projects with the highest ROI and some tips on how to get them done.