Front Door Upgrade Shows Massive ROI
During uncertain times like these, it’s difficult to know where home improvement dollars are best invested. You may be pleasantly surprised to find out that one of the simplest projects is also one of the best return on investment (ROI) options available.
While home renovations may seem fun and exciting on paper, the reality is that they can prove long, stressful and expensive. It’s important to know exactly what you’re getting into — and out of — a house project before you move forward on it. Also, whether you’re updating your home to sell or just doing it for yourself, knowing which projects to prioritize is important. One way to do this is to move those that provide the most bang for the buck to the top of the list.
As it’s hard to know for sure whether painting the bathroom, upgrading your countertops, putting up a backyard pergola or installing a tile backsplash will be the best investment, there’s one project you don’t have to think twice about: upgrading your front door. It’s quick, easy, and has a jaw-droppingly large ROI, according to Realm, a data clearinghouse for homeowners.
ROI basically means how much you put into an investment versus how much you get out of it. The higher the ROI, the better the investment. By simply replacing your front door, you can see a 484.55 percent return on your investment — a monster return for something that really doesn’t take much work.
So if you’ve been putting off swapping out your current doors for newer versions with all the bells and whistles, don’t wait any longer. Even smaller changes, like upgrading your fixtures or giving your front door a fresh coat of paint, can have similar ROI. The main factor is that refreshing your front door boosts curb appeal, which adds to the real value of your property.
While a front door replacement presents one of the largest ROI rates for home improvement projects, here are a few others with surprisingly high returns:
• Adding to your outdoor living space with things like a fire pit, pergola (127% ROI) or patio (147% ROI).
• Replacing kitchen cabinets (208% ROI).
• Adding luxury upgrades such as a steam shower (168% ROI).