Which Renovations Give the Best Return?

Today I’m coming to you from the center of Florence, Italy. This is a gorgeous city filled with culture, beauty, and history. One thing to note is that homes and apartments are so expensive here that most residents are forced to stay in their current places. Instead of moving, everyone just renovates their living area to fit their needs. 

However, if you live in the Louisville or Southern Indiana region, your position is very different; you have options. While it’s certainly easier to buy a home in Louisville than Florence, it isn’t a walk in the park. Prices are climbing, and as a result, many people are deciding to renovate instead of move. If you choose this option, which renovations are the best for return on investment? Fortunately, there’s a report dedicated to just this topic. 

The annual Cost vs. Value Report shows which projects net you the best bang for your buck. A few years ago, the best thing you could add to your home was a deck. At the height of the pandemic, a place to enjoy the outdoors from your property was very valuable. 

From the 2021 report, the best thing you can do is change your garage door. Replacing your door netted an average of 94% of your investment. Overall, you lose money, but it’s still the highest ROI in the entire report. 

If you are interested in renovating or selling, please call or email me. I’ll visit your home and do a free, no-pressure consultation. I look forward to hearing from you! Also, don’t forget to tune in to my real estate show Sunday mornings on 840 WHAS from 8:30 a.m. to 9 a.m.