Source: Residential Resale Council
Every smart homeowner knows that major—or even minor—remodeling projects should be undertaken with one eye on design and the other on the ROI. You want to be comfortable with whatever return on investment you receive for upgrading your home because, unfortunately, many upgrades won’t entirely recoup their cost upon sale. But the use you get out of the home with the upgrade might still make the construction worthwhile, regardless of the ultimate selling price.
Here’s the top 10 remodeling projects that provide the best return on investment nationally:
1. Add fiberglass attic insulation
Cost Recouped: 107.7%
Average Job Cost: $1,343
Average Resale Value: $1,446
2. Replace your entry door with a steel door
Cost Recouped: 90.7%
Average Job Cost: $1,413
Average Resale Value: $1,282
3. Install a manufactured stone veneer (instead of vinyl siding)
Cost Recouped: 89.4%
Average Job Cost: $7,851
Average Resale Value: $7,019
4. Complete a minor kitchen remodel
Cost estimate includes new cabinet fronts and hardware, new energy-efficient appliances, laminate countertops, mid-priced sink and faucet, dingy floor replacement and wall paint.
Cost Recouped: 80.2%
Average Job Cost: $20,830
Average Resale Value: $16,699
5. Replace the garage door
Cost Recouped: 76.9%
Average Job Cost: $1,749
Average Resale Value: $1,345
6. Replace the siding
Cost Recouped: 76.4%
Average Job Cost: $14,518
Average Resale Value: $11,093
7. Add a wood deck
Cost estimate includes built-in bench and planter.
Cost Recouped: 71.1%
Average Job Cost: $176,108
Average Resale Value: $125,222
8. Add a two-story addition
Cost estimate includes adding a family room, bedroom and bathroom.
Cost Recouped: 71.1%
Average Job Cost: $176,108
Average Resale Value: $125,222
9. Finish the basement
Cost estimate includes bar area, main room and bathroom.
Cost Recouped: 70%
Average Job Cost: $71,115
Average Resale Value: $49,768
10. Add a family room
Cost Recouped: 69.3%
Average Job Cost: $89,566
Average Resale Value: $62,055