Thinking of updating your home this year? Learn about Home Improvement Projects with The Best ROI in Denver, Colorado. Your return on investment depends on your home’s value as well as the homes around you. It will also be effected by how long you live in the home after doing the improvements and how well the project is completed.
Most upgrades are probably worth the investment for your personal enjoyment if you plan to stay in the home for an extended period of time. By being in the home a longer period of time, you give the real estate market time to increase and you leverage Remodeling Cost ROI as property values grow.
You can usually expect 80% to 90% back on your home improvement investment dollar, within the first two years.
Here are a few examples of Home Improvements Projects With The Best ROI in Denver, Colorado.
Major Kitchen Remodel – 74.8%
Minor Kitchen Remodel – 97.4%
Bathroom Remodel – 79%
Master Suite Addition– 73%
Bathroom Addition– 67.2%
Want to learn more?
Each year, Remodeling Magazine publishes its Cost vs. Value Report, a detailed look at the return on investment (ROI) that typical remodeling projects get across the region. This year was no different.
There was a small increase in the average job cost but a significant increase in the cost recouped on several projects. For example, the 2020 ROI for a minor kitchen remodel is 97.4%, up 11.4% from the 2019 ROI of 78%. A major kitchen remodels in 2020 shows an ROI of 72%, up from 63% in 2019. The ROI on remodeling bathrooms is also up. This means there is no better time than now to update your kitchen and bathrooms.
2020 Cost vs Value
This site compares the average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. It also shows Job costs ranges, which may be helpful when planning your budget. See the Home Improvements Projects With The Best ROI in your area.
If you’re not looking to do major improvements there are still many ways to refresh your home. One of the most impactful is to upgrade your lighting.