Home upgrades can enhance the value of your home, but some have a higher return on investment (ROI) than others. Thankfully, you can work with a bathroom remodeling contractor to get great results. However, you may also need to work with other professionals as well. Here’s what you need to know about your options and which may be the best for your needs as a homeowner.
Why ROI Matters
ROI matters if you ever plan on selling your home and want to make a profit. For example, some renovations have a poor ROI because they cost too much and don’t improve the value of your home. Other small renovations may improve your home value more than expected.
Few will provide 100% or more of your investment because of material and home devaluation over time. However, if you’re smart and you invest in the right options, you can easily boost your home’s asking price and come away with both a better home and a better sale price later.
Which Projects Give You the Best ROI?
Let’s take a look at which of these investments will give you the best potential ROI. You’re likely to see that a bathroom remodeling contractor is a wise call when reading through this list. These professionals can provide many upgrades that improve home value:
- Minor Bathroom Change – Around 102%
- Landscaping – Up to 100%
- Minor Kitchen Upgrades – Averages 98.5%
- Attic Bedroom – Expect 93.5%
- Major Bathroom Remodel – About 93.2%
- Major Kitchen Improvement – Up to 91%
- New Entry Door – Around 90.7%
That said, these upgrades may also vary based on your area. For example, according to Money, you can get around 64% of your investment back when doing a mid-range bathroom remodel compared to the 57% for an upscale upgrade. Why the difference? Material prices. If the materials and the upgrades cost too much money, you won’t get back as much on your investment.
As you can see, you might need to work with many professionals, including a bathroom remodeling contractor, to ensure that you get great results. Talk to your team about the various steps that must be taken, including which of these ROI options will be the best for your needs.