5 Home Upgrades and Improvements With High Returns on Investment for Your Boise Investment Property
As a homeowner who’s spent a lot of time at home or an investor looking to spruce up their rental, these home upgrades and improvements will help your home and its value. Ideally, any improvement will increase your value and pay itself back. These are some projects that will do just that.
1. Painting Upgrades
Painting is one of the cheapest upgrades while still being able to provide dramatic results. It’s affordable and an easy home improvement. It’s also a project that could be a fun DIY. If you hire a professional to paint the interior of your home, expect to pay around $3,600 to $6,000, depending on your square footage. An exterior paint job will start at $5,000 or more.
2. Adding Siding or a Fresh Veneer
According to Remodeling magazine’s 2020 Cost vs. Value Report , fiber-cement siding costs an average of $17,000 and recovers about 78% (or $13,195) of a home owner’s initial investment. Fiber-cement is the cost-efficient choice since vinyl siding can crack, split, warp, and aluminum can dent and fade. Another perk to fiber cement is how well it holds up against the elements, and it’s resistant to fire, rotting, and termites.
If fiber cement isn’t your style, then manufacturer stone veneer might be. At an average cost of $9,357, it adds an added sale value of $8,943. That’s a 96% return on investment!
3. Building a Deck
Not only will a deck be an excellent spot for lounging and entertaining, but it provides a seamless transition from going inside to outside. In 2020, wooden decks brought in a 75% return on investment. Natural, rustic wood is recommended to get the highest ROI while also sticking to a classic look.
4. Kitchen Upgrades
Remodeling a kitchen can bring a net cost of 77% on your investment. If you’re thinking about selling in the future, make sure you avoid making overly personal decisions, so your kitchen is still sellable. If you decide to renovate your kitchen, do it right the first time by picking high-quality fixtures like stainless steel appliances and granite countertops.
If a whole remodel isn’t in the budget for you, try some of these upgrades. Instead of replacing appliances, coat your existing appliances with electrostatic paint to give them a metallic finish. Even just painting the cabinets can go a long way as minor kitchen remodels have a higher return on investment than major ones.
5. Modifying the bathroom
Popular bathroom upgrades like updated countertops and new fixtures give a return from 57% to 64%. Still to classic choices so it will appeal to people with traditional and contemporary styles.
If you want more minor upgrades, touch-ups on sinks, toilets, and tubs could make your existing appliances look brand new. A surface-restoration company can recoat ceramic, porcelain, and fiberglass fixtures to bring back the shine in your bathroom.
If you need help picking your next home upgrade or improvement project, contact us ! We’d be happy to advise you about what projects will improve your home’s value and give you a return on your investment. Call (208) 957-0870 or email Info@BoiseTurnkey.com.
