If you’re a homeowner, spending some money on home improvements could save you money down the road. This could be something as minor as replacing your entry door to a more major project like finding ways to extend the life of your roof. Whatever the case, the long-term return on investment (ROI) is often worth the cost.
Here are some of the best home improvements to consider for your home, according to Courtney Klosterman, home insights expert at Hippo Home Insurance .
Update or Replace the Front Door and Windows
“On average, U.S. homeowners earned back 188% of their investment from improving their entry door in 2024 based on market resale values,” Klosterman said. For a short-term ROI, slap on a fresh coat of paint on your entry door, power wash the windows and replace the weather-stripping. For a long-term ROI, replace your front door and windows entirely.
Convert Your Home Into a Smart Home
“Smart home features are becoming increasingly popular and there are a range of small-to-large-scale upgrades that can add value and convenience to your home,” Klosterman said. Changes could include installing smart light bulbs, DIY smart security systems, automating wired devices and appliances or installing a smart sprinkler and irrigation system.
Update Your HVAC System
Maintaining your HVAC system can do wonders for its longevity — meaning you won’t have to worry about replacing it anytime soon. You can do this by buying and replacing the filters, cleaning the vents and sealing leaks. If you need a new system, Klosterman said the average cost of a fully updated replacement is $18,800, while the average resale value is $12,422.
Replace Your Roof
Having a well-maintained roof can boost your home’s curb appeal and safeguard it from environmental damages. Klosterman suggested cleaning out the gutters, repairing damaged shingles and trimming back overhanging branches that could damage it. “While replacing your existing roof is no small undertaking, U.S. homeowners earned back 57% of their investment based on the latest market resale values after opting for a new roof with fiberglass asphalt shingles,” Klosterman said.
Repair and Replace Your Siding
“There are easy and affordable ways to refresh your existing siding and make it look its best,” Klosterman said. “Refreshing your siding with a deep cleaning, painting or minor repairs can make your home look fresh, new and more attractive to potential buyers. This can increase your home’s value if you’re planning to sell.”
If you’re on the fence about purchasing that top-of-the-line coffee maker or those specialty kitchen gadgets because of their price, just know that having them could save you money on going out.
“If you love coffee and can’t imagine your day without it, get a top-quality coffee maker. Even if you spend $300 on a new coffee maker, it would pay for itself compared to Starbucks in just two months,” said Scott Lieberman, founder of Touchdown Money .
The same goes for kitchen gadgets.
“Anything that encourages you to make things at home makes sense for your home. If you can easily make a shake at home, for example, you’re much less likely to spend on a quick splurge out,” Lieberman said. “Knives, blenders and cookware all make sense long-term.”
Your Business
Do you have a business you want to grow but are scared to invest in? If you’ve got a solid plan, you might want to “splurge” on it. Doing so could increase your long-term gains and save you money on short-term, costly mistakes.
“As a business owner and personally, I always look for ways to save money in the long run, even if that means spending money upfront,” said Dan Kroyter, founder of TailoredPay . “When starting my company, I invested in high-quality office equipment and technology, which was a significant cost. However, it’s paid off because the quality has meant we have not run into issues often where we need to fix or replace something. Good investments will pay for themselves, but it may take some time.”
Quality Mattress
“There are always going to be things that seem like a reach at first glance. After all, do you really need to spend an extra hundred dollars on one thing when there’s a cheaper version available?” Lieberman said.
The answer, in some cases, is yes. If you’re thinking about getting the cheaper mattress just to save a few hundred bucks, ask yourself how it’s going to affect your quality of life in the long run — and how much that’ll cost you.
“Sleep can’t be overemphasized. You need to get rest every night to be sure you’re at your best,” Lieberman said. “Sleeping comfortably is always worth every cent.”
Don’t skimp on the bedding either. Opting for scratchy, low-quality sheets that cost very little won’t help you sleep better. Depending on the quality, you may have to replace them more often, too.
Insurance
When you add up all the different types of insurance you can get, you’re looking at spending hundreds or even thousands of dollars a month. Some of these coverage options might not be necessary for you right now, but they can pay off over time.
Dalton Tigner, insurance professional with Tigner Insurance , said the following types of insurance are generally worth the money.
Comprehensive health insurance: Get it for the peace of mind plus the protection it provides in the case of unforeseen medical emergencies.
Disability insurance: Useful for business owners that rely on their employees to keep things running smoothly and don’t want to risk losing those employees and the revenues that come with that.
Umbrella insurance: Best for individuals and families who want to safeguard their finances against a potential lawsuit arising from car accidents or similar circumstances.
High-Quality Clothing
“A more unconventional expense that can save money in the long run is purchasing high-quality, durable clothing,” said Dennis Shirshikov, finance professor at City University of New York . “While fast fashion offers cheaper alternatives, these items often wear out quickly, leading to more frequent replacements.”
By getting well-made clothes now — even if they cost a bit extra — you can cut down on those frequent purchases and save money.
Certain Professional Services
Maybe you don’t want to spend hundreds of dollars on tax planning or legal counsel and maybe you don’t have to right now. But if you get to a point where these things make sense, the extra upfront cost could well be worth the long-term savings.
“As an attorney and CPA, conducting tax planning with clients has helped them take advantage of deductions and credits to lower their tax burden,” said David Fritch of Fritch Law .
House Cleaner
Having a house cleaner come might seem like an unnecessary splurge. But what if having a clean home encourages you to stay home more often and cut down on going out?
“With a cleaner home, you’re more likely to enjoy your space and entertain guests at home,” said Justin Godur, finance advisor at Capital Max .
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