Top Three Best Returns on Your Home Improvement Investment
Often the best return on your investment is the joy you get from waking up in a home you love. But sometimes the best part is getting your money back when the love affair is over.
Here are our Top Three picks for the most enjoyment and highest return on your investment.
New Wood Floors
Estimated Cost for a Pro Job: $5,500
One of the best returns on a home investment is hardwood floors. They’re beautiful, durable, and timeless — and one of the smartest things you can do, too.
Many homeowners now want (and even expect) hardwood floors. And when done in keeping with the home’s layout and neighborhood, they can add 2.5% to the sale price.
How to get even more ROI: If you already have wood floors and they’re still in good shape, why not refinish them and save a little money? It costs around $3,000 and recovers 100% of its value at resale.
New Garage Door
Estimated Cost for a Pro Job: $2,300
While it’s not the dreamiest home investment, a new garage door is one of the quickest ways to make your home shine, especially if it’s front and center like many of today’s homes. It’s also one of the most affordable.
How to make your garage door pay off more: In addition to improving curb appeal, an insulated door on an attached garage can help lower energy bills, which will earn back money every month — and generate a little joy in your heart.
Estimated Cost: $50 to $100 for a 6- to 7-foot deciduous tree
ROI: 100% or more
Planting trees today is one of the smartest ways to reap financial rewards tomorrow. A well-positioned tree shades the house in summer and shields it from harsh winds in winter, shaving money off your utility bills — as much as $250 per year.
And according to the Forest Service, mature trees contribute as much as 10% to your home value.