This fact might surprise you: The average home improvement project does not tend to have a 100% return on initial investment. You might be thinking – why would I remodel then? The reasons range from the added enjoyment you’ll get from having that brand new kitchen to staying in line with other homes in the area who are investing in these upgrades. However, if you’re looking for a project with 100% ROI, these are some of the top options you should consider.
Upgraded Landscaping: Were you thinking I was going to say kitchen or bath? Surprisingly landscaping is a top runner for maximum return on investment. Your curb appeal is the first impression of your home so it makes sense that landscaping would have a good return. If your yard is one area your home is lacking, adding in some color and cleaning things up can make a big difference. Consider incorporating some flowering shrubs, large planters with bright flowers, fresh mulch and maybe even a new flagstone walkway to really spruce things up.
New Roof: This one doesn’t sound like the most fun but it’s a big deal when it comes to selling your home. If you’re seeing water leaks in your roof, put this in the #1 spot before you do anything else. Plus, the ROI on a new roof is over 100%. How do you know if you need a new roof? Here are a few signs.. If you notice shingles missing or curling up, the sun shining through your attic or you see stains on ceilings and walls, then it’s probably time for a new roof.
Hardwood Floors: The timeless look of hardwood floors are a top feature to love and they are probably the one feature that will always be a good investment. The trending style of hardwood floors may change over time but they’re always going to trump any other style of flooring when it comes to holding their value. You know the feeling when you find out there are hardwood floors underneath old, outdated carpeting? It feels like you hit the jackpot! Hardwood floors are timeless so refinishing them is a no brainer. If you don’t have them, they’re also going to be worth the initial investment down the road.
Patio or Deck: Say hello to outdoor entertaining and Summer BBQ’s. We already know that landscaping is the #1 project for ROI so it makes sense that a patio or deck addition is really going ot up your backyard game! Now you’ll even have a place to sit with a cocktail and appreciate all that landscaping work you did. To give you some examples, the average cost of a patio is $6,000 and the average return is 102%. For a deck, the average cost is $9,450 with a 106% average return. Are you thinking tonight’s dinner conversation will go something like “Honey, we’re getting a new deck!”
Which remodeling project have you been considering? Always consider the ROI on any home projects you decide to tackle. Spending $50,000 on a kitchen remodel will not necessarily add that amount to the value of your home so keep that in mind when deciding where to spend vs where to splurge.
Located in the 11 county metro, The Trust Team is a leader in the Minnesota real estate market. The Trust Team was founded in 1978, yet represents the best of traditional market knowledge, cutting edge technology and top -notch customer service - all provided by 10 of the most experienced agents in the industry.
We combine the very latest in proprietary internet marketing, and make use of the most current and relevant real estate and social media platforms. We are considered leaders and innovators - always willing to try what is new, and use what is proven. Joe Niece, has more than 3000 past real estate clients, and is an information and renowned internet Guru. His wife Angela Niece and partners, Nikki Moeller, Matt Wolfe, Mike Finstad, Joe Jones, Cory Kingbay, Mary Ellen McGlone, and Stieg Strand have created a most unusual real estate team. 2015 was our best year ever with 498 satisfied clients which gave us the honor of being the #2 team in all of Minnesota. We want your business, promise your complete satisfaction and we are committed to your success !
Jilly walks us through her amazing DIY project! She put together a bar
"I tried to sell last year and I was unsuccessful so I decided to get some new opinions on what I should do. I interviwed two agents when I was getting ready to sell my home the second time. Angela and the other top person in the area. I was very impressed with both and both she and Angela came up with similar values for our home. The problem was that Angela's value was with me doing three projects and the other Realtor told me that I did not have to do anything. My wife and I were leaning on going with the other Realtor and Angela asked if she could come over and go over a few things with us.
She pulled out the comparable homes that we had picked together when she first met with us and she asked us to look at the pictures. All of the things that Angela was telling us we should do were done on those homes.
She then asked us to think about the signs that we have seen in the area that were his and the signs that we have seen in the area that were hers. Then she asked us one really good question. she said "Do you want to list with the agent that has his signs go up, quickly have a sold sign and then the sign disappears or list with the agent that seems to have the signs up forever. It seemed really logical but we had never thought about it that way. I had always thought about how many signs I saw for the other agent. It made sense that the other agent was not doing more business than, it's that her signs stayed up much longer.
We were convinced to list with Angela but we told him that we thought that our home would be able to sell without doing the things that Angela had suggested. she told us she would market our home like it was the best thing on the market. A month later our home had not sold. she told us we could do the things that she had suggested or drop the price to match the value.
Being a stubborn German, I did two of the things that Angela suggested but not the third. Three weeks later, Angela was talking to me about feedback. she told me that we were going to hurt ourselves unless we decided on one path or the other. Either finish the last project or drop the price before we were stale on the market.
I finished the last project, we went back on the market and sold three showings later. I tell my friends that it was just luck but I know different. Everything that Angela told us she was going to do, she did. Everything that Angela told us was going to happen when we first met with him happened. The price we would get for our home if we did the projects she said we needed to do, we got (once we did the project) she told us the truth and I am grateful that we listed with him and I would suggest that anyone selling a home interview him.