If you’re thinking of embarking on a home improvement project, it’s important to remember that not all projects are created equal. Some will bring you a nice return on your investment when it comes time to sell the home; others, less so.
What improvements will give you the best return on your money? The answer may surprise you.
Here are some of the more desirable projects, in terms of return on investment (ROI), according to the 2020 Cost Vs. Value Report from Remodeling.com:
Garage Door Replacement (94.5% ROI)
- Average Cost: $3,695
- Average Resale Value: $3,491
Minor Kitchen Remodel (Midrange) (77.6% ROI)
- Average Cost: $23,452
- Average Resale Value: $18,206
Siding Replacement (Fiber-Cement) (77.6% ROI)
- Average Cost: $17,008
- Average Resale Value: $13,195
Siding Replacement (Vinyl) (74.7% ROI)
- Average Cost: $14,359
- Average Resale Value: $10,731
Window Replacement (Vinyl) (72.3% ROI)
- Average Cost: $17,641
- Average Resale Value: $12,761
Window Replacement (Wood) (68.9% ROI)
- Average Cost: $21,495
- Average Resale Value: $14,804
Deck Addition (Wood) (72.1% ROI)
- Average Cost: $14,360
- Average Resale Value: $10,355
Deck Addition (Composite) (66.8% ROI)
- Average Cost: $19,856
- Average Resale Value: $13,257
Among the lowest in terms of ROI: master suite addition (51.6% ROI); major, upscale kitchen remodel (53.9% ROI); and upscale bathroom remodel (56.6% ROI).