When you invest in a Denver home, you are investing in its rising value. You know that Denver neighborhoods tend to go up in value over time and that a well-maintained home will likely also increase in value. But when you make your home improvements to your home, this is another way to raise its value. When the amount you spend on home improvements is returned in the value added to your home, this is known as ROI or Return on Investment.
With every home renovation, never forget your potential for ROI. You can make the home a better place for your family, and a closer version of your dream home, while also ensuring that the house will sell for even more when you or the family eventually decide to sell.
Most home improvements do not ROI 100%, but some do. We spotlight the home improvement projects that offer the most value to Colorado homes.
1) Minor Bathroom Renovation
- Average 102% ROI
It surprises me most to learn that the best ROI home improvement project is a minor bathroom renovation. We say minor because this is very specific. Complete bathroom overhauls can get pricey, and the key to good ROI is balancing cost to benefit. Updating an old bathroom with new tile, replacing a wobbly toilet, and hanging a mirror that was made in the last decade can transform a bathroom from shabby to chic, which is why it can reach above 100% ROI in the value added to a home for new buyers.
2) Home Improvements: Upgrade Landscaping
- Average 100% ROI
If you have bland landscaping, the ROI on an upgrade is almost perfectly 100% (on average). Adding layers, boulders, pathways, and shapely flower beds can turn a strip of grass into an arboreal private escape. The difference in value is profound, and many modern home buyers will pay a premium for a yard that is already landscaped and beautiful.
3) Attic Bedroom Conversion
- Average 93% ROI
Another shabby-to-chic transformation that is good for home values is a finished attic. Attic bedroom conversions not only turn your attic into more official square footage, but you also add a bedroom to your count. These improvements alone are worth a measurable amount in any housing market. Attic bedroom conversions earn an average of 93% ROI, almost complete returns, plus the enjoyment your family gets from a cool loft bedroom for guests, or teenagers, or used as a private workshop or office.
4) Deck and Patio Additions
- Average 90% ROI
Outdoor living is a hot item and has since quarantine spotlighted the importance of space and peace at home. This means expanding your family space with a beautiful patio or deck can also significantly add to the value of your home. The building or adding to a deck typically returns at around 90% ROI. This balances differently depending on the features and aesthetic appeal of your deck.
5) Window Replacements
- Average 89% ROI
Lastly, window replacements. They are essential. In Colorado, winters are serious enough that loose, rattling window frames let cold air in and wreak havoc on your heating bill. The good news is that upgrading your windows with new double-paned replacements typically ROIs at around 89%. This is because buyers also know just how valuable high-quality windows will be in any Denver home.
Enjoying Returns for Home Improvements You Love
Making home improvements is your right as a homeowner. You can transform your home, make old parts new, build new features that you love, and increase the quality of life inside your home with every improvement. By choosing wisely, you can also ensure that all or most of your home improvements pay themselves back in value added to the home itself. From claiming unused space to essential upgrades, learn more about the best home improvements for ROI by contacting me today.