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These 5 Home Renovations Will Get You The Most Money Back

Posted by Scott Layson on February 13, 2016
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Home renovations

Whether you’re gearing up to sell your home or you just want to do a little updating around the house, it’s nice to know what projects are going to have the biggest return on investment. We just recently attended a seminar where the findings from CostvsValue.com were on display. This really helped to shed a little light on the top 5 home renovations that provide the most value compared to cost. If you are overwhelmed of where to begin, this should provide a good starting point so you can get your home ready for the peak buying season.

1.  Attic Insulation

Job Cost:  $1,218       Resale Value:  $1,500       Cost Recouped:  123.2%

This definitely isn’t the sexiest project on the list, but according to the latest Cost vs. Value Report from Remodeling Magazine, it tops the charts with a 123% return. In fact a 2015 Demand Institute study of the top unfulfilled housing needs and desires of consumers found that energy efficiency was the No.1 unmet housing concern and only 35 percent of consumers believe their home is energy efficient. “Adding air sealing and insulation is among the easiest, most cost-effective ways to increase a home’s energy efficiency,” Rich said. “The bonus is that a fiber glass attic insulation upgrade increases its value as well.”

2.  Minor Kitchen Remodel

Job Cost:  $19,312       Resale Value:  $19,256       Cost Recouped:  99.7%

This one is probably the least surprising on the list. Anyone who watches HGTV know that an upgraded kitchen goes a long way and is always a top priority for potential homebuyers. While this is one of the more costly projects,”If you take $20,000 and spend it judiciously on a kitchen, you can make it look a million times better,” says Remodeling senior editor Jim Cory. “The design and product selection are key.” Although you don’t have to go all out to see a nice return. According to Remodeling magazine’s annual analysis of cost versus value, a kitchen “face-lift” of painting, refinishing surfaces, and upgrading appliances will return even more than a full redesign.

3.  Manufactured Stone Veneer

Job Cost:  $7,301       Resale Value:  $6,880       Cost Recouped:  94.2%

Speaking of facelifts, sometimes your home can benefit from a dramatic change to it’s exterior. You can easily upgrade your curb appeal by just adding a stone veneer around the bottom of the siding or replace all the siding to create a beautiful stone accent wall. 

4.  Garage Door Replacement

Job Cost:  $19,312       Resale Value:  $19,256       Cost Recouped:  99.7%

A garage door can take up to 50 percent of a home’s front elevation. 45% of people also say that it is the main entry point they use to enter the home. These two factors are the primary reasons why the return on investment is so high. So swap out the old aluminum garage doors for a new set of carriage garage doors and instantly give your home a custom upgraded feel.

5.  Entry Door Replacement

Job Cost:  $3,094       Resale Value:  $2,677       Cost Recouped:  86.5%

They say you only get one chance to make a first impression so this one absolutely makes sense. If a potential home buyer shows up to your house and the front door is a mess, it immediately sets the wrong tone for the entire showing as it is the first thing they see before stepping into your house. Don’t have the funds to replace the door? A fresh coat of paint can still go a long ways.

BONUS:

Houzz.com has a great tool that allows you to get a quick idea of how much a certain project will cost specific to the city you live in. Check it out below:

remodeling tool

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