What Remodel Adds the Most Value
Every year, remodeling magazine compares the expenses of large remodeling projects against the resale value of those renovations. The 2022 Cost vs. Value report, which was recently released, examines the average cost of 22 remodeling projects in 150 areas across the United States.
Based on the research, the five home remodeling projects with the highest national returns on investment (ROI) are as follows. If you're considering selling your house, these are the renovations you should prioritize.
Top 5 Remodels that Add the Most Value
1. Garage Door Replacement
- Average cost: $4,041
- Average resale value: $3,769
- Cost recouped: 93.3%
When it comes to recouping your investment, a nice-looking garage door ranks high. This curb appeal enhancer could recoup nearly the whole cost (93.3 percent) when you sell your home—one of the few home improvement projects that can do so.
2. Manufactured Stone Veneer
- Average cost: $11,066
- Average resale value: $10,109
- Cost recouped: 91.4%
Stone always shows a classic, refined look. Replacing vinyl siding with stone veneer, even on a little portion of your property such as the doorway, can significantly improve the exterior and curb appeal. This initiative also recovers nearly all of its costs (91.4 percent).
3. Midrange Minor Kitchen Remodel
- Average cost: $28,279
- Average resale value: $20,125
- Cost recouped: 71.2%
A modern-looking and functional kitchen can enhance your enjoyment of everyday activities such as cooking, sharing meals with family, and entertaining guests. It's also a great selling factor for potential house buyers. This project will return nearly three-fourths (71.2 percent) of your investment.
4. Fiber-Cement Siding Replacement
- Average cost: $22,093
- Average resale value: $15,090
- Cost recouped: 68.3%
Even the greatest, structurally sound home can look worn-out with old or crumbling siding. The average house will cost slightly more than $22,000 to replace 1,250 square feet with new fiber-cement siding, and you can expect to recoup more than 68 percent of that investment upon resale.
5. Vinyl Window Replacement
- Average cost: $20,482
- Average resale value: $13,822
- Cost recouped: 67.5%
If you install low-E (low-emissivity), simulated, divided-light vinyl windows with a custom-color exterior finish, you might recoup nearly two-thirds of the cost of replacing your current windows. The average price for this type of refurbishment is $20,482.
