All home improvements are not created equal. The ever-important factor to consider is the “ROI,” return on investment. Here are three projects, according to the National Association of Realtors®, that add significant equity to your property, even if you have to hire a professional to do all or part of the work.
• Insulation: While adding or replacing insulation is not a glamorous project, it does pay off at resale time and can save you up to 50 percent on your heating/cooling expenses.
• Hardwood flooring: The investment in refinishing existing hardwood or having new hardwood installed will easily pay for itself at resale time. Homeowners love the look and feel of wood floors.
• New roof: “How old is the roof?” is one of the first questions potential buyers ask when viewing the outside of a property. Re-roofing your home with the newest, eco-friendly materials can increase your equity position as well as help lower your energy bills.
For more information about the ROI of specific improvements to your property, consult your local real estate professional.
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Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First
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