The Best Affordable Home Upgrades for ROI

Residential real estate is usually the biggest investment individuals and families make in Greer. Completing high-ROI home upgrades is a smart way to protect and grow that investment while making your space more comfortable, more enjoyable, and a little more sustainable, too.

Whether you’re looking to increase your property’s resale value, improve aesthetics, or lower your energy footprint, these are the best ROI home upgrades that won’t break the bank.

Calculating Home Upgrade ROI

Calculating your return on investment centers on a commonly-used ROI formula that includes the amount you spend on a home upgrade and how much it adds to your property value.

ROI = (Net profit/cost of investment) x 100

The net profit is the actual or expected financial gain from the investment minus its cost.

The cost of investment includes the total expenses, including:

Materials
Labor
Permit fees
Ongoing subscription/service fees (if applicable)

To calculate the ROI on a bathroom remodel, for example, we’d plug in the numbers:

Cost of investment in remodeling, labor, permitting, and related expenses: $25,000
Net profit, or return on investment (at appraisal): $18,000

That equates to a bathroom remodel return on investment percentage of 72%. This is typical for many home remodeling or renovation projects.

5 High-ROI Home Improvements

Most families can’t afford high-end remodels or renovations with significant financing – and they may not need to spend that much, anyway. There are several affordable and accessible home upgrades that will make your home more comfortable, too!

1. Replace Your Garage Door

Garage door replacement offers an immediate curb appeal boost, especially if it’s insulated. New garage doors can offer an average ROI of around 200%.

2. Replace Your Front Door

Front door replacement is a visual upgrade that adds security, too. A new steel front door is a very safe investment, with the best return on investment – at around 100%.

3. Kitchen Appliance Upgrades

Upgrading to modern, energy-efficient appliances offers an ROIbetween 50% and 95%. Kitchen appliances improve the room cosmetically and may lower your home’s energy consumption; just ensure your home’s electrical system is in good working order.

4. Curb Appeal Upgrades

Some of the home upgrades with the highest ROI are outside, so your home will make a great first impression when someone drives by! Consider making affordable home improvements to:

Exterior lighting: Add or upgrade existing light fixtures and implement security lighting. Choose energy-efficient options, such as LED lighting, which has anROI of more than 100% within a year of installation!
Fresh paint: A new coat of paint reenergizes any home’s look. A neutral color may attract a wider range of potential buyers.
Upgrade landscaping: Trim bushes, add mulch and flowers, and add attractive rocks to make your outdoor space as inviting as the interior.

5. Adding Insulation

Similar to maintaining your HVAC system, adding insulation can enhance your home’s energy efficiency, offering a relatively short payback period. Insulation provides anannual ROI of 18.5%!

Insulation may also prolong the functional lifespan of your heating and cooling systems by reducing the frequency and duration of running cycles.

What About Plumbing Upgrades?

While not as flashy as a new washing machine or a fresh coat of paint, there are some interesting and affordable plumbing upgrades with nifty ROI.

Low-flow toilets are inexpensive upgrades that lower water consumption and offer average ROIs up to 100%.
Smart plumbing technologies, such as leak detectors or sump pump alarms, offer peace of mind and protect against costly water damage.

Explore More High-ROI Home Upgrades With Five Star Plumbing Heating Cooling and Electrical

We’re your go-to local business for smart home upgrades in Greer. From HVAC to plumbing, we provide top-quality service at fair prices. Schedule your appointment with our friendly technicians today!

Five Affordable Home Upgrades With the Highest ROI