Who Knew? A Home Improvement with a 267% ROI!!
If someone said you could give them a dollar and they’d return and give you $267 a day later plus they’d do work for you…. We’d be clamoring to sign up, right? You may be surprised to learn that the home improvements paying the best return on investment (ROI) aren’t what you think!
It is likely you know a great kitchen and master suite make a home much more sale-able and both have a pretty high ROI when updated. You may even know that a new front door is about the highest on the list in terms of best places to put your money when putting up a home for sale. What you may not have guessed is professional standard lawn service, yes lawn service, recovers an estimated 267% of your investment! So not only do you get to sit back and watch someone else do your work, but when you’re selling – it is like having it done free and then some!
It seems there are several outdoor features that make your home both appeal to buyers and add value to your home. You may want to consider going a step beyond standard lawn care and have some landscape maintenance done too! That ranks #2 on the list and includes such things as tree/shrub pruning, removal of small trees, new mulch, etc. If your deck has seen better days or you’ve been thinking of putting in a new patio – hop to it. Not only do both of those upgrades make in the top 5 for appeal and added value but they add to the *Joy Factor as well. What is Joy Factor? That’s the positive feeling that makes you desire to spend more time at home.
Joy Factor comes in to play in almost all the top 13 outdoor home improvements. Whether you’re planning to sell or not, you may find justifying the expense of an update easier by looking at these statistics. Not only will mom and dad be more pleased to sit out on the back deck sipping a drink, but kids come into play here too. Despite the bad rap one particular outdoor expenditure has had in regard to ROI, this outdoor feature ranks the absolute highest on the Joy Factor. Any idea what it might be? A pool of course! So if you’re a parent who would like to be sure your kids have a great time at home instead of spending time at someone else’s; the biggest pull is to put in a pool. That’s a great tidbit to be sure your Realtor knows when selling a home with a pool. Marketing the Joy Factor could make a big difference.
We may be nearing the end of summer right now but there’s still plenty of time to make your yard and landscaping look great! And there’s nothing like pulling in the driveway at the end of a long day of work, or after a vacation and seeing your yard looking fabulous.
If you have any further questions about Outdoor or Indoor Residential Features topping the ROI charts, reach out to me and I’ll be happy to get you more information.