Whether you’re dying to update your home, or you’re just trying to look at it from a buyer’s perspective, it really pays off to know which home improvement projects will deliver the best return on investment (ROI).
ROI values vary from year to year, as the economy shifts homeowners’ and homebuyers’ priorities change, and the amount of payback varies from project to project. Before you dive into those renovations, take a moment to see which ones are worthy investments according to the Remodeling 2019 Cost vs. Value Report.1. Garage Door Upgrade | 97.5% National Avg. Recoup on Investment
The garage door sets the tone for your home’s exterior design. An old or dented garage door will detract from the look of your house and causes potential buyers to question how well you’ve maintained the rest of your home. Replacing your garage door ranks as the number one in terms of recouping your money spent, with a national 97.5 percent cost recoupment.
2. Stone Veneer | 94.9% National Avg. Recoup on Investment
New siding is a great way to improve your home’s overall curb appeal. While any type of siding can offer an updated look, stone veneer will give you the best return, with a whopping 94.9 percent return on investment.
3. Minor Kitchen Renovations | 80.5% National Avg. Recoup on Investment
Minor kitchen updates can make a big difference with an 80.5 percent return on investment. A minor renovation includes replacing hardware, countertops, sinks, cabinet doors, and drawer fronts, or refacing the existing cabinet base.
4. Wood Deck Addition | 75.6% National Avg. Recoup on Investment
Enhanced outdoor living and outdoor entertaining spaces are at the top of many homebuyer’s wish lists, so if you’ve been dreaming about a new patio, this is a good year to make those dreams come true. Well-designed decks are top selling points, and you could recoup 75.6% percent of the money you spend on a new wood deck.
5. Siding Replacement | 75.6% National Avg. Recoup on Investment
As we mentioned earlier, new siding is a great way to improve your home’s curb appeal and increase your return on investment by a national average of 75.6 percent.