Upgrading your home can be an expensive undertaking. One way to make the cost more palatable? Prioritize upgrades that deliver higher return on investment (ROI). In doing so, you not only benefit from these improvements in the short term, but also position yourself for ongoing financial gains.
Wondering which high-ROI upgrades are most applicable if you live in Florida? Here, we’ll identify six of the best home improvement projects to make if you live in the Sunshine State.
1. Manufactured Stone Veneer
Every year, Remodeling magazine releases its annual “Cost Vs Value Report,” which compares average costs for home improvement updates with their retained value at resale. In addition to providing national data, the analysis also breaks things down geographically. The upgrade claiming the top spot for the South Atlantic region? Manufactured stone veneer.
This man-made product replicates the appearance of natural stone without the expense and with a much easier installation process. With an average job cost of $10,377 and average resale value of $11,300, manufactured stone veneer comes in at an impressive 108.9 percent in terms of cost recouped.
The takeaway? If you’re looking to improve curb appeal without spending a significant amount of money, manufactured stone veneer is a solid choice.
2. Garage Door Replacement
Garage door replacements claim the second place spot on Remodeling magazine’s ranking. And with good reason: While relatively inexpensive compared to other projects on the list, you can expect to recoup 99.1 percent of your costs at resale.
But resale ROI is just one of the many benefits you’ll access when you move forward with a garage door replacement. Other advantages include increased energy efficiency, better security, enhanced curb appeal, improved functionality, and low maintenance.
Not to mention that if you live in a region prone to extreme weather, a high-quality impact garage door with a window can fortify your home while also improving the appearance and offering unparalleled peace of mind.
3. HVAC Conversion—Electrification
Electric HVAC conversions were also a top five finisher in Remodeling magazine’s roundup of best upgrades in terms of ROI at resale (86.7 percent cost recouped).
Plus, if sustainability is important to you, electric HVAC systems are an attractive option because they don’t produce local emissions. They can also be powered by renewable alternative energy sources.
In addition to being “clean,” electric HVAC systems have also been improved by new technologies making them even more efficient. Homeowners will experience this benefit in terms of both lower energy bills and more comfortable living environments. All of these payoffs are amplified in Florida during the sweltering summer.
4. Impact Windows and Doors
If you live in Florida, the value of this home update shouldn’t come as a surprise. Because while Florida is beloved for its abundant sunshine, it’s also known for something else: strong weather—specifically, hurricanes.
Home to a six-month-long hurricane season spanning from June 1st through November 30th, Florida homes are subject to high winds, storm surge, and flooding. Not only that, but according to the Florida Climate Center, it’s a misconception that some parts of the state aren’t at risk for hurricanes. Rather, due to its unique combination of location and long coastline, all parts of Florida are susceptible to hurricanes and their impacts.
That’s where impact windows and doors come in. Your home may be the biggest investment you’ll make in your lifetime. Impact windows and doors top the list of ways to protect it by reducing the risk of damage from shattered glass, driving rain, and airborne objects.
And while aluminum windows may cost more upfront than some other materials, their durability, energy efficiency, and beauty mean they’ll continue to deliver value for years to come.
Strong aluminum windows and doors can even play a role in helping to prevent your home from collapsing when subject to powerful hurricane forces. This makes them the above-and-beyond best choice for Florida homeowners.
The best part? Strengthening your home with impact windows and doors doesn’t have to mean compromising curb appeal or functionality. Options like a stylish and high-performance glass pivot door, for example, offer an excellent combination of both.
5. Pool + Hot Tub
While pools and hot tubs may not be obvious contenders for adding ROI in terms of hard dollars and cents, they can actually add significant value to your home, depending on several considerations.
According to Brad Officer Realtor Group, location is a huge factor when it comes to adding value to your home. Specifically, if you live in an area where year-long (or nearly year-long) pool use is a possibility, you’ll reap the returns through the seasons. Add in a pool heater and/or a hot tub or spa element, and you’ll get even more use out of your pool.
Other factors that will make a pool addition more valuable include the quality of your pool, buyer expectations for particular neighborhoods, alluring landscaping, and buyer demand. In fact, according to Brad Officer, home buyers almost always start their searches with a pool requirement.
As with pools and hot tubs, the degree to which upgrading your flooring boosts ROI depends on the specifics of the project.
Take hardwood floors, for example. A dream for many homebuyers, hardwood flooring also satisfies the growing demand for move-in ready properties. When inventory is limited, this can lead to faster sales at higher prices. In fact, according to Curbio, the average ROI for hardwood floors is a whopping 276 percent.
But other types of flooring are also associated with desirable ROI. For example, luxury vinyl plank flooring (LVP) provides the aesthetics of hardwood floors while out-performing them in terms of durability. Factor in that it’s waterproof, and LVP can be especially appealing in Florida. These qualities add up to an impressive 235 percent ROI, according to Curbio.
If you’re deciding which upgrades to make to your Florida home, many factors come into consideration. Assessing your goals, needs, and budget can help you prioritize which home improvements make the most sense.
Whether ROI is your top priority or another concern like safety, aesthetics, or energy efficiency, impact windows and doors shine—both literally and figuratively—especially when you partner with industry-leading ECO Window Systems. Whether you’re looking for an impact garage door with window or residential windows for your home, ECO Window Systems can help.
To learn more about improving your home with high-performance impact doors and windows from ECO, get a free quote from your local dealer today.