Published By: Hunker.com
Date: April 15, 2023
Planning a Remodel in 2023? Here Are the Home Improvement Projects That Have the Best ROI
Whether you are planning a total renovation of your house, or you simply want to spruce up a room, the first thing you’ll want to think about is a remodeling budget — and of course how much value the project will add to your home. With the median price of home remodeling projects exceeding $18,000, prudent homeowners need to focus their spending on projects that improve their comfort level and provide a good return on investment (ROI). The average ROI for home renovations is only 56 percent, though some projects provide much better returns.
At the same time, homebuyers can be fickle, and a home improvement project that may dramatically boost your home’s resale value one year may provide only a marginal increase the next. To determine which home renovations will give you the best ROI in 2023, we spoke with various experts, including real estate agents, interior designers, home flippers, inspectors, remodelers, and industry analysts.