Most homeowners decide to renovate for the added comfort and enjoyment the changes provide—but some renovations add more value to the home than others in terms of both appraisal and sales price. Here are the five home remodeling projects that deliver the highest returns.
- Garage Door Replacement – A good-looking garage door is high on the list when it comes to getting cash back on your investment. At an average cost of under $4,000, it is estimated this curb appeal enhancement will net a 93.8% return on what you spent for it when you sell your home.
- Stone Veneer Siding – Replacing vinyl siding with manufactured stone veneer on part of your home, such as an entryway, can decidedly enhance a home’s exterior. The project, which can cost into the thousands depending on the size of the area you choose, will recoup about 92% of its cost.
- Minor Kitchen Remodel – Potential buyers see lots of value in a kitchen upgrade. You’ll recoup about 72% of the cost of a minor remodel – about $26,000 on average, based on a 200-square-foot kitchen with 30 linear feet of countertops and cabinets, replacing appliances with energy-efficient models; refacing cabinets with shaker-style panels, installing new countertops and sink, replacing hardware, adding new flooring and repainting walls.
- Vinyl Windows – You could recoup around 69% of the cost to replace your current windows with energy-efficient vinyl windows with a custom-color exterior finish. The average cost for this type of renovation will set you back a little more than $19,000 for 10 windows.
- Fiber-Cement Siding – Old, dilapidated siding can make even the nicest home look worn-out. For the average home, replacing 1,250 square feet with new fiber-cement siding will cost just over $19,500—and you can expect to get back more than 69% of that investment upon resale.
