All homeowners want a return on their remodeling investments. But choosing the right renovation for your budget and long-term financial goals isn’t always easy. Fortunately, ROI-tracking resources like the Cost Vs. Value Report can help you make the right decisions. Here’s a highlight of the top five return-friendly projects according to this year’s report.
1. Fiberglass Insulation: 107.7% ROI.
New insulation isn’t a glamourous addition. But it’s an update that will yield a guaranteed return. Additionally, fiberglass insulation will improve your home’s energy efficiency. The national average for new fiberglass insulation is $1,343, with a sale value of $1,446.
2. Entry Door Replacement: 90.7% ROI.
Installing a steel front door is a simple way to improve your home’s looks and security. And, with an installation cost of $1,413 and a sale value of $1,282, steel doors are an economical upgrade as well. High-quality steel doors also prevent leaks and boost the insulation of your home.
3. Manufactured Stone Veneer: 89.4% ROI.
Engineered stone siding mimics the look of pricier natural options. Manufactured stone also places less stress on the frame and foundation of your home than heavier alternatives. Most homeowners pay $7,851 for manufactured siding, and see a $7,019 return.
4. Garage Door Replacement: 85% ROI.
Faulty garage doors can cause flooding, threaten your home’s energy efficiency and provide access to burglars. Garage door updates also function as aesthetic upgrades. A new generation of materials and designs are making garage doors a popular exterior focal point. Most homeowners pay $3,304 for a door replacement, and see a $2,810 return.
5. Minor Kitchen Remodel: 80.2% ROI.
Small kitchen remodels (from $5,000 – $25,000) are a potent home upgrade. Kitchen overhauls improve the looks and usability of your home. Replacing old fixtures and appliances will also increase your home’s energy efficiency. Most homeowners pay $20,830 for their kitchen renovation, and enjoy a $16,699 return.
No Comments Yet
You can be the first to comment!