NORTH BROWARD & BOCA Blog

5 Home Renovations That Can Increase ROI in North Broward and Boca

: #SolarPanels are one of the most common jobs Florida residents consider for a quality return on investment or #ROI home renovation project. Here are 5 more home renovation projects that will recoup more than 50% of your costs.

When it comes to a positive return on investment, you can make changes in everything from appliance upgrades to construction additions. Regardless of whether you are looking to sell in the next few years or you are a new homeowner that is making a few early adjustments, it is important to consider the cost return of your efforts. Every change you make in your home can potentially affect the worth of the house when you are ready to sell.

Home renovations can sound like an exciting time to break out some DIY recipes you have been meaning to try, completing a long-overdue project, or giving a few rooms some much-needed TLC. For other homeowners, however, it may look more like a daunting list of unfamiliar areas. At Koala Insulation of North Broward and Boca, we are here to help you break down your to-do list into bite-sized pieces that can guarantee a great return on investment. Here are five home renovations that can help increase the value of your house while saving you money over time.

What is a Return on Investment?

A return on investment, often referred to as ROI, is used to refer to how favorable the cost to performance ratio is for an investment. For example, solar panels in Florida are considered a good investment because homeowners are likely to see an average of 20% ROI in the first year after installation. You can typically calculate it by taking the Net ROI divided by the Cost of Investment; multiply the resulting number by 100% to calculate your ROI percentage. The Net ROI is found by taking the final value of investment (FVI) and subtracting the initial value of investment (IVI).

Minor Remodeling

You are more likely to get a better ROI from minor remodeling in places like your kitchen or bathroom as opposed to a major upscaling job. The key is to make functional changes as opposed to adjustments that are purely for appearance. Touch up the paint instead of redesigning, upgrade necessary appliances, and consult an agent on what trends buyers are looking for in your area. In the southeast of the United States, basic remodeling jobs can recoup over 50% of the cost on average.

Window Replacement

Replacing your windows not only enhances the aesthetic of your home but also contributes to air sealing, insulation, and durability. You have several choices when it comes to replacing your windows, but your highest ROI will come from vinyl or wood replacements. While wood is more often sought after in classic-style homes, vinyl is easier to maintain and has on average a higher return on investment in the southeast. When focusing on energy-efficient windows that can also help you save on your energy costs, the Department of Energy has a guide to their Energy Star standards and essentials for making an environmentally friendly adjustment.

Air Sealing

Air sealing helps prevent conditioned air or heat from escaping your home through small gaps, cracks, or holes in the building envelope. These can happen because of general wear, natural weather damage, or even previous pest infestations. Having your home inspected for air leaks covers more than just the walls, attic, and ceiling of the house – you are more likely to find problematic gaps around your windows, doors, and other outside access points. The EPA estimates that having your home properly air sealed and insulated can save homes on average 15% on heating and cooling bills.

Insulation Upgrade

Insulation and air sealing are two sides of the same kind - if you find you need to upgrade one of them, you will most likely need to evaluate the other for maintenance. The primary function of insulation is to help keep your home temperature regulated, keeping out unwanted heat in the summer, and keeping desired heat in during the winter. This not only saves you in utility bills with reduced energy consumption from your heating, ventilation, and air conditioning (HVAC) system but it's also a target point for new buyers. Recently upgraded insulation typically means there has been a thorough evaluation to detect hidden moisture and mold growth, pest nesting, and air leaks.

Garage Door Installation

A new or upgraded garage door installation is going to be one of the best ROI changes you can make to a home at an average of 88% of the cost recouped in the southeast. This is one upgrade that can focus on functionality and aesthetics at the same time without greatly affecting your cost and return. In cases where you can reuse the existing motorized opener, you are more than likely to increase the recouped cost.

Bottom Line

Making quality investments in your home is not just about upgrading your home for sale in the future. It is also about making yourself comfortable and adding in upgrades and additions that will ultimately help you save in the future. Whether it is the small quality of life updates to the garden and landscape or finally upgrading your kitchen appliances, a quality return on investment is about giving back to your wallet and comfort.

Our team at Koala Insulation of North Broward and Boca offers free evaluations to maximize your return on investment. The goal is to find target areas in your home that may need to have insulation removed and reinstalled, air leaks that need to be sealed, and potential health hazards like signs of pests and mold. Once we have walked you through our process, we are not only looking to find you the best material and installation for your budget, but we also have financial plans available. Contact our team today to learn more about how our free evaluations can contribute to your home renovation project.