If you’re planning on selling your house in 2022 or if you’re looking to tackle some home renovation projects, we’ve got the top renovations that will give you the highest return on your investment.

Find out what’s trending this year and learn about our Home Renovation Mortgage Loans.

Landscaping

We’re putting this one at the top of our list. You’ve probably heard the phrase a time or two that “first impressions are important”. This is true especially when it comes to selling your home. Curb appeal says a lot about your home, and it offers a tremendous return.

According to HGTV, landscaping is one of few improvements from which homeowners can expect a 100% return on their investment. The average amount spent on landscaping is around $5,000 and most of this is recouped when a home is sold. Since the pandemic, buyers are very interested in outdoor spaces. So, if you’re thinking about sprucing up your outdoor space, we highly recommend doing just that!

Bathroom Remodel

If your bathroom could use some updating, we’ve got some good news. For a midrange bathroom renovation, you could see a 60.1% return on your investment for upgrades like replacing fixtures, adding a ceramic tile bathtub, and a new vanity top according to Bob Vila.

Kitchen Remodel

Kitchens are a huge selling point and one of the most expensive rooms to remodel fully, but a minor kitchen renovation can get you a 72.2% ROI according to Bob Vila. Think about replacing old cabinet doors and drawer front, replacing old hardware, add new countertops and a kitchen sink. If you’re going all out, a full remodel nets only a 57.4% return.

Garage Door Replacements

The garage door is another feature that potential home buyers will notice first. According to an article from BobVila.com, the cost to replace a garage door is around $3,900, which makes the ROI 93.8%.  

New Hardwood Floors

Dollar signs start adding up when buyers see flooring they know they’ll need to replace anyway. If you want a top-dollar return, new hardwood floors are key. According to real estate experts, the average ROI for installing hardwood floors is about 70% to 80%, and wood floors can boost the sales price of your home by as much as 2.5%.

New Front Door

Speaking of curb appeal, a new entry door is a crucial part of a home’s perceived value. According to Remodeling Magazine, investing in a new front door has an average ROI of 74.9%.

Window Replacement

Replace your old drafty windows with energy-efficient windows. This can give you an ROI of about 68.6%.

Adding A Deck

Outdoor spaces are a hot item these days! Adding a deck to your home is a smart way to increase your home’s value. According to Bobvila.com, Wood decks are the most popular and net homeowners an average of 66% ROI. If you’ve been longing for a deck, now is a great time to take action!

New Vinyl Siding

Give the exterior of your home the fresh, clean look it deserves. Your house is guaranteed to have the best curb appeal on the block with new vinyl siding. According to Keeping Current Matters, the ROI on new vinyl siding is 63%.

New Roof

If you’ve ever been house hunting before, we’re certain you’ve taken notice of the roof’s condition. Most buyers will push pause on a home if the roof needs to be replaced. It is one of the biggest factors in determining the overall value of a home. According to First Star Exteriors Roofing and Siding, a new roof will likely give you an ROI of about 60-68%, depending on the condition of your old roof and the quality of materials used.

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Greenway’s Home Renovation Loans

If a home renovation is on your road map this year, you may want to consider a Home Renovation Loan from Greenway Mortgage. Whether your home improvement projects are large or small, a renovation loan can help you get the job done and it’ll improve the overall value of your home as well.

Although you may be able to pay for home improvements with a personal loan or other types of financing, these methods have higher interest rates and monthly payments.

Instead, you can combine the purchase price plus the renovation costs into one mortgage payment or refinance your existing mortgage plus construction costs into a new mortgage. Our renovation programs make it easy for you to improve your property by including the extra financing in a purchase or refinance loan.

Our Renovation Loans Include:

• FHA 203 K Program
• Streamlined 203K
• Standard 203K
• HomeStyle

If you’re interested in learning more about how a Renovation Loan can help you, contact us today or visit our website here.