Remodeling projects that hold value have the greatest return yield through improved living for you now, and when you sell, you'll get cash back for you trouble. Below are the estimated returns on investment (ROI) for home improvements. As the numbers decrease, so does the resale pay-off. Remember, there are many different reasons for remodeling. Your sheer enjoyment is valuable. If you'll be happier by remodeling, that's priceless! Steer clear of expensive improvements showing no promise of a decent return and take on the remodeling projects that hold value.
If you're thinking of selling soon, these remodeling projects with the greatest return can guide you in deciding whether or not you want to invest the time and money, or sell without making changes. Selling a home for more may mean some updating. Here is the return you'll get on your investment if you decide on home improvement before selling.
Manufactured Stone Veneer 94%
Garage Door Replacement 93.8%
Siding Replacement (fiber-cement) 80.5%
Deck Addition (wood) 77%
Kitchen Remodel (minor) 76.3%
Siding Replacement (vinyl) 76%
Window Replacement (vinyl) 73.2%
Window Replacement (wood) 68.2%
Entry Door Replacement (steel) 67%
Deck Addition (composite) 66.6%
Roofing Replacement (asphalt shingle) 60.7%
Bath Remodel (midrange)60.1%
Kitchen Remodel (midrange) 58.7%
Roofing Replacement (metal) 56.1%
Bath Remodel (upscale) 54.8%
Master Suite Addition (midrange) 54.7%
Major Kitchen Remodel (upscale) 53.9%
Bathroom Addition (midrange) 53.1%
Bathroom Addition (upscale) 52.8%
Master Suite Addition (upscale) 47.7%
Once you're clear on whether or not your dream kitchen (or other remodel) is worth the investment, you'll be free to make an intelligent decision. Remember, home improvement is emotionally expensive too. When factoring expenses, design, materials and more, be sure to include how much it will cost if you don't make the improvements. Your happiness and peace of mind are also valuable commodities, and in many cases, it's difficult to put a price on that.
Holding to remodeling projects that hold value make you a more savvy real estate investor. and a smarter seller. That will pay off in dollars and cents down the road when it's time to put the property on the market.