If your goal this year includes home improvement or renovations you will definitely want to ask yourself: "When the dust settles, what are the benefits of a home improvement project?" This question is answered by the 2015 Remodeling Impact Report found in Realtor Magazine.
The report has 3 major sections: return on investment, the joy the remodel brings to a homeowner, and what has the highest buyer appeal (though not necessarily the highest return on investment).
Their findings:
#1 Interior Return On Investment (105%) = New Roof
#1 Project that made owners the happiest = Bathroom Remodel
#1 Highest buyer appeal (but not the highest percentage of ROI) = Kitchen Upgrade
The overall winner? When you look at the intersection of buyer appeal, cost, return, and owner joy, a new roof appears to be the smartest remodeling investment.
Here is an illustration of their findings:
And your best bet is to speak to a realtor in YOUR AREA who knows the local market and can give you even more detailed advice on what will be a good return on your investment.
If you have questions on how I can help you achieve your goals, please feel free to contact me anytime.
Sincerely,
Chris
Your Residential Lending Team
