According to a recent report on homeownership, roughly 95% of U.S. homeowners are planning a home renovation project in the next five years.1 Along with potentially increasing home enjoyment, some home upgrades may also bring homeowners a positive return when it comes time to sell.
Based on a report on average national remodeling costs,2 the following projects are estimated to bring the maximum average return on investment:
1. HVAC conversion: 103.5%
Upgrading to an energy-efficient HVAC system can yield a substantial return on investment. Systems that use renewable energy sources like air or ground heat to efficiently regulate indoor temperature can also help homeowners substantially reduce their energy consumption and utility bills.3
2. Garage door replacement: 102.7%
A home’s exterior plays a crucial role in shaping first impressions and influencing potential buyers. A key entry point for a home is the garage door, so a garage door replacement greatly enhances curb appeal and property value.
3. Vinyl siding replacement: 94.7%
One of the most cost-effective ways to give your home a facelift is by installing vinyl siding. It’s durable, low maintenance and can dramatically improve your home’s curb appeal.
4. Midrange bathroom remodel: 66.7%
Midrange bathroom renovations that address common pain points and improve functionality can significantly enhance property value. Key high-value bathroom enhancements include the installation of heated floors, custom cabinetry, and practical shower storage solutions.4
5. Wooden deck addition: 50.2%
The growing demand for outdoor living spaces has made decks a highly desirable feature among prospective buyers. They can significantly increase a home’s resale value while allowing homeowners to capitalize on outdoor leisure and relaxation.
By focusing on home improvement projects that offer significant returns on investment, homeowners can maximize the value of their homes while enjoying the benefits of enhanced functionality and comfort.
Learn more about how Aqua’s competitive customer financing can help your customers cover the cost of financing a home renovation. Contact us today at:
800-234-3663, option 4, ext. 6094
[email protected]
