NW JACKSONVILLE Blog

5 Jacksonville Home Improvement Projects Can Improve ROI

When considering a new home improvement project, many homeowners are looking to save as much as possible on the costs of material and labor. This involves being conscious of your budget, contacting local experts for evaluations and estimates, and focusing on functional upgrades over purely aesthetic additions in order to increase your potential return on investment.

As a homeowner, you're probably familiar with the concept of ROI - the trick is incorporating this understanding into every home improvement project you take on. This will not only help you make informed decisions on changes and adjustments but also provide you with an idea of how your purchase will continue to help you save in years to come.

The Importance of A Quality Return On Investment

A return on investment (ROI) measures the cost-to-performance ratio for a project, purchase, or service. Whether you’re planning on putting your home on the market soon or you’re just checking out new renovation opportunities, ROI can help you determine how favorable a new home improvement can be for your house.

If you have the necessary costs or even just estimates, calculating your ROI is fairly simple. First, you need to find your Net ROI by taking the final value of investment (FVI) and subtracting the initial value of the investment (IVI). From there, you take the result (Net ROI) and divide it by the Cost. If you're looking for the ROI percentage, just multiply that result by 100%.

5 Home Improvement Ideas for Better ROI

• Minor Remodeling

As you take on the task of a new home renovation, don’t fall into the idea that “bigger is better.” On the contrary, for the best cost-to-performance ratio, it’s more important to keep things on a smaller scale in more cases. Instead of larger upscaling jobs in areas like your kitchen or bathrooms, schedule minor remodeling projects that can provide you with a better return on investment.

It’s important to remember that the changes you make to your home should prioritize functionality rather than adjustments that are made purely for appearances. Simplicity is key in many cases: touching up paint instead of going for a full redesign, upgrading necessary appliances, or even consulting with an agent on current trends that buyers are looking for in your area. In Northwest Florida, basic remodeling jobs for your bathroom and kitchen can recoup anywhere from 80% to over 90% of the costs on average.

• Replacing Windows

If you are looking to improve the aesthetics of your home, hope is not lost. Take the opportunity to replace the windows around the house to not only improve the space visually but also the air sealing, insulation, and durability. Installing energy-efficient windows can also help to reduce energy costs; the Department of Energy provides a guide to ENERGY STAR standards and essentials for making environmentally friendly adjustments.

Where there are a number of options available as you're replacing parts of the windows, your highest return is likely to come from vinyl or wood replacements. Wood is more often selected for classic-style homes. Vinyl, on the other hand, is considered easier to maintain and typically has a higher return on investment in the southeastern region of the U.S., on average.

• Air Sealing Updates

Updating the air sealing around your home is an important step to prevent conditioned air and heat from escaping the house through air leaks. Air leaks are small gaps, cracks, and holes throughout the building envelope which are most often caused by general wear, natural and weathering damage, and pest infestations.

When you schedule an inspection for air leaks, the evaluation should cover everything from your walls, flooring, attic, or even the ceiling. Window sills and door jambs are the worst culprits of air leaks, but any outside access point is going to be a common problem area. The EPA estimates that having your home properly air sealed and insulated can save homes on average 15% on heating and cooling bills.

• Upgrading Insulation Material

When you upgrade your air sealing, it’s just as important to have the insulation throughout your home evaluated as well. The primary function of insulation is to regulate temperatures by reducing the rate of heat transfer, which is how easily heat moves through a structure. As air sealing and this material work together as two sides of the same coin, if you find that one is in need of an upgrade, the other is likely to have maintenance needs.

Updated insulation helps to keep out unwanted heat in the supper and retain desired warmth throughout the winter. This hits two key points that help out ROI: saving more money on monthly bills by reducing energy waste and HVAC usage and hitting a significant target for potential buyers. Recently upgraded insulation typically means there’s been a thorough evaluation to detect hidden moisture and mold growth, pest nesting, and air leaks.

• Replace Garage Doors

Finally, one of the most common - and beneficial - upgrades for homeowners is replacing their garage door. Not only can this increase home value but it also provides a number of benefits that helps reduce costs. In the southeastern region of the U.S., a garage replacement can recoup over 85% of the cost with percentages looking even higher for northern Florida.

Just like your window replacements, this home improvement project can focus on both functionality and aesthetics without greatly affecting the cost and ROI. In fact, in cases where the existing motorized opener can be reused, you're more than likely going to increase the recouped cost!

How Can I Invest in My Northwest Jacksonville Home?

When you’re planning a home renovation project, it’s important to plan out more than just the cost and aesthetics. A return on investment estimate is a great way to project an increase in home value. Meanwhile, making energy efficiency upgrades can help you to improve the comfort and safety of your home throughout the year. Calculate the best ROI results with your local experts at Koala Insulation of Northwest Jacksonville when you schedule a free evaluation today.