One of the most frequently asked questions when we engage with a new customer about a potential renovation is what the ROI. What is ROI stand for? It’s the “return on investment” might be. This question is of importance for both homeowners thinking about selling and for homeowners planning to stay. If you knew your home renovation wasn’t going to deliver any ROI – would you still do it? As part of this series, we’ll look at each of the home renovation services we deliver – starting with exterior renovations ROI potential.
In this article, we’ll discuss some of the basics of home exterior renovations, and which projects you should focus on if you want to improve the value of your home. Let’s get started now.
Exterior renovation ROI – focus on curb appeal
Curb appeal is one of the biggest factors that determine the value of your home. Your home can be beautiful on the inside – but if the outside isn’t up to par it can detract. If you’ve got issues like peeling siding, worn-down and outdated doors and windows, and sagging gutters, your home won’t reach its full value if you try to sell it.
So, before you focus on any other Winnipeg renovations for your home, invest in functional upgrades and home maintenance improvements. Winnipeg home renovations like new siding or paint or upgraded windows and doors add tremendous value to your home. As well, getting a new roof can give you a decent return. And, when you decide to sell you’ll recoup some of those costs. According to HGTV, replacing a roof and windows and doors has an 80% return on investment. Completing a siding replacement recaptures 92.8% of its cost. These ROI values are almost as high as a kitchen renovation.
Exterior renovation ROI – enhance your outdoor living space
If your home’s basic systems are well-maintained and you’ve got plenty of curb appeal, it’s time to turn to larger projects that can enhance your home – particularly its outdoor living areas. Decks, patios, and sunrooms have very good ROI, and can make your home much more appealing to buyers. Depending on the project, you may be able to recoup as much as 30-60% of the cost of the renovation or addition – and until you do sell your home, you’ll benefit from a gorgeous, custom-built outdoor living space that will be a great place for you and your family to rest, relax and enjoy the beautiful summer weather in Winnipeg.
Discuss exterior renovation options and ROI with us!
We hope this article has been informative. Our goal is to help you learn more about the ROI of common home exterior renovations in Winnipeg. To learn more or get a quote for Winnipeg exterior renovations, just contact Dash Builders online today.