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8 home improvement projects that will pay off later

by | Mar 16, 2020 | Blog, Construction

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).

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