Truly, not all home renovations offer a great return on investment. As such, it's important that you understand which interior and exterior home renovations add the most value, especially when it’s time to sell or refinance.
1. Garage Door Replacement
According to the 2021 COST vs VALUE survey by Remodeling Magazine, an updated garage door is the best ROI home renovation. With a whopping 93.8% of the total cost recouped, you get back almost all the money spent buying and installing it.
RENOVATION COST: $3,907
RESALE VALUE: $3,663
TOTAL ROI: 93.8%
2. Minor Kitchen Remodel | Midrange
A midrange kitchen remodel can return over 70% of the total cost. Upgrading the countertops, hardware, and appliances, and re-facing the cabinets make for a great ROI renovation.
RENOVATION COST: $26,214
RESALE VALUE: $18,927
TOTAL ROI: 72.2%
3. Window Replacement | Vinyl
Although there are several window options to choose from, vinyl windows are said to yield one of the highest returns on a real estate investment.
RENOVATION COST: $19,385
RESALE VALUE: $13,297
TOTAL ROI: 68.6%
4. Roofing Replacement | Asphalt Shingles
An upgrade on the roofing using fiberglass asphalt shingles can offer a cost recovery of over 60%.
RENOVATION COST: $28,256
RESALE VALUE: $17,147
TOTAL ROI: 60.7%
Click here to download a brochure of these Top 4 Home Improvement Projects with High Investment Returns.