Homedirect loanWhat to Know Before You Renovate: Maximize Your ROI

What to Know Before You Renovate: Maximize Your ROI

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The best home renovations to increase a home’s value are quite unexpected. It’s easy to get caught up in dreams of gourmet kitchens and extravagant master baths. But these typically only return about 10 to 15 percent.

That’s what Alan Ilyaich, owner of Eco Choice Windows & Doors, told us when we asked the question on most homeowners’ minds: Which home renovation is going to give me the biggest return on my investment?

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Home renovations are hot

Take it as a sign of our times. Binge-worthy house flipping and home-improvement shows are popping up on almost every channel and streaming service. Homeowners are interested in fixing up and renovating – not just for entertainment but for improving their homes’ values.

Despite challenges like lockdowns and supply chain issues, in 2020, Americans invested $420 billion in remodeling projects. With many contractors noting an increase in demand since the start of the pandemic, high demand for remodeling is expected to continue through 2022.

7 home renovations that are worth the cash

Here the old saying, “You have to spend money to make money,” holds true. Jett Hovell of Fantastic Handyman, who’s completed several successful renovating jobs, says that when it comes to increasing your home’s value, it’s important to remember that the market you’re selling in plays a big role in the price of your home. “What I would suggest is firstly you talk with an expert on the matter. They know the market, and they will help you best,” he says. Your loan officer can help answer any questions and refer you to a contractor they’ve worked with in the past.

Get in touch with a loan officer to find a loan program that’s right for your reno. Cornerstone lends in almost every state.

When you’re ready to start your project, consider home renovations with the greatest ROI potential:

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