As we inch closer towards the busy selling season, taking on home improvement projects can be very tempting. But are all upgrades equal and provide a high ROI?
Remodeling magazine released its 2020 Cost vs. Value Report, comparing the costs of the most popular remodeling projects across 136 U.S. markets. The report also outlines how much real estate professionals believe each upgrade will improve a home’s resale value.
According to Remodeling, “curb appeal” projects, which enhance the appearance of a home, provide some of the highest returns because they improve a buyer’s first impression. Below are six home improvement projects under $15,000 that yield the highest returns on investment across the U.S.
Manufactured Stone Veneer (95.6% ROI)
Addition of an adhered, manufactured stone veneer to the bottom third home exterior.
- Average cost: $9,357
- Average resale value: $8,943
Garage Door Replacement (94.5% ROI)
Removal of an existing double-car garage door and installation of a new insulated door with windows.
- Average cost: $3,695
- Average resale value: $3,491
Siding Replacement – Vinyl (74.7% ROI)
Installation of new vinyl siding which includes factory trim at all openings & corners and a continuous water-resistive barrier (WRB).
- Average cost: $14,359
- Average resale value: $10,731
Deck Addition – Wood (72.1% ROI)
Installation of pressure-treated deck boards in a simple linear pattern with a built-in bench & planter, three-step stairs and a railing system.
- Average cost: $14,360
- Average resale value: $10,355
Grand Entrance – Fiberglass (53.3% ROI)
Removal of an existing front entry door and replacement with a new fiberglass door and dual sidelights.
- Average cost: $9,254
- Average resale value: $4,930
Don’t know where to start when it comes to taking on a home renovation project? See our list of preferred vendors across Dallas/Fort Worth here that can help you determine what upgrade is right for your home at the best price.