Most home improvement projects carry a substantial cost, but one of the best things about improving your home is that it can also improve your home’s value. That means you’ll actually get a percentage of your project cost back when it’s time to sell. But which projects give you the best Return on Investment (ROI)? According to Remodeling Magazine’s Cost vs. Value analysis, here are the top ten projects to consider if adding value to your home is one of your remodeling goals.
1. Manufactured Stone Veneer
In a project that almost pays for itself with up to 95% of the project cost recouped in home value, installing a continuous band of manufactured stone veneer in place of vinyl siding gives your home a serious facelift. Outline an arched entryway to take full advantage of this exterior home project.
2. Garage Door Replacement
Replacing the garage door is another smaller project that breathes new life into your home’s exterior and has an astounding ROI at over 94% of the project cost. To take full advantage of this project’s return, choose a new four-section garage door on new steel tracks, but reuse the existing motorized opener if it still works well.
3. Minor Kitchen Remodel
Is your kitchen feeling outdated, but it’s not the right time for a full remodel? A minor remodel in a midrange price bracket is a great solution, and you can recoup over 77% of the project cost in home value. In a smaller kitchen remodel, the cabinets are usually left in place to keep the budget down, but other kitchen elements are updated around them. Replace appliances with new energy-efficient ones and replace outdated countertops and flooring. Finish off this update with newly painted walls, ceiling, and trim.
4. Siding Replacement
Both fiber-cement and vinyl siding show a good return on investment, with fiber cement siding giving you up to 77% back and vinyl with 74%. Fiber-cement siding can be more of an investment than vinyl siding. It can last over 50 years and is incredibly weather and insect resistant but is more expensive than traditional vinyl. That is not to say that a high-quality vinyl siding is a bad choice as it is also durable and comes in an array of unique styles.
5. Window Replacement
Both wood and vinyl window replacements will give you a substantial ROI with 68.9% and 72.3% of project cost, respectively. Remember, not all replacement windows are created equal. Higher quality windows will be manufactured specifically for your home to create the best possible seal. Lower quality windows are mass-produced and will fail faster, meaning you won’t get as much out of them and may end up paying even more to replace them again soon.
6. Deck Addition
With all the extra time spent at home in 2020, many homeowners are considering adding to their outdoor living space with a deck. And the great news is, this easy way to add space to your home can also add over 68% of the project cost to home value. Wood decks will give you a slightly higher ROI than composite, but both are an excellent addition to the home. Include stairs, a railing, a built-in bench, and a planter, all made from the same material as the deck, to get the full value out of this project.
7. Steel Entry Door Replacement
On the smaller end of home projects, entry door replacement holds an excellent value with over 68% ROI. If you’re considering replacing your front door, choose one made out of steel and installed with an aluminum threshold and composite stop. The door should be factory finished with the same color on both sides to reap the best ROI.
8. Roof Replacement
Replacement roofs not only add monetary value but increase your peace of mind. After all, a roof replacement isn’t something homeowners usually choose for aesthetics; it’s a necessary part of owning a home. But the good news is that standard asphalt shingle roof replacement can yield over 65% of the project cost in home value. Close behind, a more expensive metal roof replacement can also yield 61% in home value.
9. Midrange Bathroom Remodel
If you have a small master bath or hall bathroom that could use an update, the good news is that you can see up to 64% of your project cost back in your home value. A standard midrange bathroom remodel is a full tear out that will include replacing the flooring and fixtures and replacing everything with mid-priced items like a standard toilet, solid-surface vanity counter with integrated sink, and a medicine cabinet. You can save money on this remodel by limiting tile to the shower surround and using vinyl wallpaper or simply paint on the walls.
10. Universal Design Bathroom Remodel
Great news for those planning to age in place or who have an elderly or a differently abled family member living with them, universal bathroom design can see up to 62% of the project cost in added home value. These bathrooms include wheelchair accessibility with zero threshold doorways, curbless showers, bi-directional glass doors, and comfort height toilets, along with adaptive accessories like easy-grasp handles and adjustable vanities and mirrors.
The projects above have the best ROI in home value, but any home update is only as good as the home remodeler you choose to work with. At Brothers, we have over 30 years of experience improving Maryland homes. From roof replacements, repairs, siding replacement, and gutters, to transforming basements and building stunning decks, there’s no project too big or small for our team to handle. If you’ve got a home project that you’re ready to get started, schedule a consultation with one of our remodeling experts now.