Top 5 Home Improvements that Offer the Highest ROI

Carolee Locklear
Published on January 27, 2017

Top 5 Home Improvements that Offer the Highest ROI

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Cost vs. Value

With the many different projects reported annually in Remodeling Magazine’s Cost vs. Value Report, not much has changed from last year…and that’s not a bad thing. The 29 home improvements found on this year’s report paid back an average of 64.3 cents on the dollar in resale value. Looking at the 24 most tracked home improvements (projects consistently tracked for the last six years), their payback for 2017 was also 64.3 cents—only three-quarters of a penny higher than 2016 projections.

Why the little change? Simply put: the differences in underlying numbers were minimal year-to-year. The average cost for those 24 home improvements rose a meager 3 percent, while the value that real estate professionals put on said projects only rose 4.2 percent. Minor gains, yes, but we’ll take what we can get.

Recent and long-time trends continued, reports Remodeling. Curb appeal home improvements like replacing doors, windows and siding garnered a higher ROI than work done inside the home. Replacement home projects, like doors or windows, scored higher among real estate pros than did remodels.

HImprve1On a national scale, the top five projects with the greatest ROI in
the report’s “mid-range” cost category are:

  1. Attic Insulation (Fiberglass)(107.7% ROI)
    Average Cost: $1,343
    Average Resale Value: $1,446
  1. Entry Door Replacement (Steel)(90.7% ROI)
    Average Cost: $1,413
    Average Resale Value: $1,282
  1. Manufactured Stone Veneer(89.4% ROI)
    Average Cost: $7,851
    Average Resale Value: $7,019
  1. Minor Kitchen Remodel(80.2% ROI)
    Average Cost: $20,830
    Average Resale Value: $16,699
  1. Garage Door Replacement(76.9% ROI)
    Average Cost: $1,749
    Average Resale Value: $1,345

The top five projects with the greatest
ROI in the
report’s “upscale” cost category are:

  1. Garage Door Replacement(85.0% ROI)
    Average Cost: $3,304
    Average Resale Value: $2,810
  1. Entry Door Replacement (Fiberglass)(77.8% ROI)
    Average Cost: $3,276
    Average Resale Value: $2,550
  1. Window Replacement (Vinyl)(73.9% ROI)
    Average Cost: $15,282
    Average Resale Value: $11,286
  1. Window Replacement (Wood)(73.0% ROI)
    Average Cost: $18,759
    Average Resale Value: $13,691
  1. Grand Entrance (Fiberglass)(70.1% ROI)
    Average Cost: $8,358
    Average Resale Value: $5,855

The 2017 Cost vs. Value Report compares, across 99 markets, the average cost of 29 popular remodeling improvements with their average value at resale one year later. Average resale value is calculated based on estimates provided by real estate professionals. View the full report, including project descriptions and city-level data, here.

Article/Report by: Remodeling Cost vs. Value


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