Maximizing ROI

The Best Investments for Increasing Home Value

Regular renovations and home improvement projects are essential for ensuring the ongoing charm, safety, and functionality of your home. However, when it comes to value, not all projects are created equal. While that new swimming pool and elegant master bedroom expansion may seem like wonderful ideas for creating a dream home, history says that buyers are not willing to pay for them. Instead, stick with more meat-and-potatoes projects that increase durability and efficiency if you want more bang for your remodeling buck. With this in mind, keep reading as we explore 7 of the best renovation investments for maximizing ROI!

Roofing Upgrade

The roof is one of the most important areas of the home for blending form and functionality. It plays a crucial role in establishing curb appeal while also serving as a first line of defense against the forces of nature. As such, it should come as no surprise that roofing upgrades are among the most lucrative projects that homeowners can undertake. 

When choosing a new roof, it is important to select materials that will maintain their appearance and protective properties over time. Metal, slate, and composite shingles are some of the most trending products for creating robust, aesthetically appealing roofs. In addition, it is crucial to consider factors such as soffit, fascia, and roof drip edge types to guarantee that the attic and crawl space are properly ventilated and protected against moisture damage. 

New Windows

Windows are the “eyes” of the house and play a critical role in providing the home with character. A fresh set of windows can truly breathe life into a property. However, new windows are far more than just an aesthetics project. They can help fortify the building envelope, eliminating unwanted air transfer at window-to-wall transitions and making the house more energy efficient. They can also allow for the improved transmission of natural light, making the interior ambience brighter and more inviting. When all of these benefits are taken into consideration, it should come as no surprise that new widows are a feature that buyers are willing to pay for. 

Siding Replacement

Much like the roof, siding is an important aspect of the home for promoting both aesthetics and performance. It is also one of the best renovations in terms of ROI, with many types of siding projects recouping close to 100% of project costs through increased resale value in the Louisville region. Some of the best materials to consider when weighing a siding project are exterior wood siding, fiber cement, and engineered stone. 

HVAC Improvements

Society is more environmentally conscious than ever in 2024. Any projects that improve the home’s performance while reducing nonrenewable energy consumption are sure to be highly valued. A great area to consider is the HVAC system. Some ways that homeowners are making their HVAC more efficient include adding insulation to the ducts and installing smart thermostats.

Functional Exteriors

Modern exteriors cannot simply be pretty spaces that boost curb appeal--they must also extend the functional square footage of the home. They serve as critical spaces for offering homeowners a change of scenery or simply getting a breath of fresh air at the end of a long day. Some of the most trending exterior renovations include outdoor kitchens, decks, and fire pits. When designing exterior spaces that will stand out on the resale market, be sure to choose materials such as the best deck screws for structural support, pergolas for sun protection, and composite pavers for adequate drainage. These features will help ensure the project’s viability over time. 

Garage Door Replacement

Nothing can make a home look unkempt quite like a dinged and dated garage door. In addition, as the torsion springs in garage doors begin to break down after about 15,000 cycles, an outdated garage door can pose a major safety risk. The good news is that a garage door replacement can usually be completed in less than a day when performed by a qualified professional. It will immediately boost the home’s curb appeal, sound mitigation, insulation, and safety, making it a project that recoups the majority of its upfront costs through increased home value. 

Low Maintenance Kitchens

Homeowners are busier than ever in 2024, with families having to juggle multiple incomes and around-the-clock schedules to make ends meet. Therefore, renovations that decrease time and effort of maintenance really stand out. Countertop renovations are a great way to get a head start in this regard. While marble countertops are timeless and stately, they do require significant attention to sealing and maintenance to keep in top condition. A less time consuming material that provides the same stately stone aspect is engineered quartz. Fabricated from a combination of mineral quartz and epoxy resin, quartz countertops are a completely nonporous countertop solution that can be cleaned with a wipe of the rag. When combined with an innovative heated countertop system, homeowners can add a hint of luxury to their kitchen without over-the-top cost and ongoing attention. 

Increase Your Home Value With These Trending Renovations

Although many homeowners get the itch to jump into remodeling projects head first, careful consideration needs to be given to ensure that the renovation will not become a money pit. By choosing from any of the 7 ideas listed above, homeowners can be assured that they are choosing the best ROI investments for increasing home value. For more of the latest real estate trends shaping the Louisville market, explore the resources at Coldwell Banker McMahan for the leading insights in the region!

Author Bio

Andrea Erickson is a freelance writer who loves sharing her knowledge and expertise in renovation and Interior Design. She lives in her hometown of Austin, Texas where she enjoys spending time with her husband and decorating with her children. Andrea’s work as a freelance writer can be found on Building Product Advisor, a construction industry resource site.