A home is a source of pride—a place where family traditions are forged and countless memories are made. That said, a home is also an investment, and choosing the right home improvement projects is all about balancing potential return on investment (ROI) with your desire to create a comfortable living space.
The National Association of REALTORS® conducted a study in 2013 to determine average nationwide ROI on common home improvement projects. ROI is calculated by dividing profit by expenses, so if you spend $1,000 on a project that boosts your home’s value by $2,000, you’ve achieved a 100% ROI. The following projects may represent high potential ROI, but do your homework before investing your time and money. Every situation is
unique, and if your upgrades completely overshadow the other homes in your neighborhood, your ROI may dwindle.