When considering a home improvement project, homeowners often grapple with the question of whether the project will be worthwhile when the time comes to sell their home. Remodeling magazine helps to take away the guesswork with the newly-released Cost vs. Value Report. The report lists the top home improvement projects with the highest return on investment (ROI). Of the top 10 projects, nine are outdoor projects.
Once again, Manufactured Stone Veneer tops this year’s 2020 report as the project with the greatest ROI. It has consistently been at the number one spot since it first made the list in 2015.
The report shows an increase in cost for all 22 projects. However, according to Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine, “Remodeling activity is growing at a slower rate than in years past, but it continues to grow.”
Nationally, here are the 10 projects with the greatest ROI, according to the 2020 Cost vs. Value Report:
Manufactured Stone Veneer (95.6% ROI)
Garage Door Replacement (94.5% ROI)
Minor Kitchen Remodel (Midrange) (77.6% ROI)
Siding Replacement (Fiber-Cement) (77.6% ROI)
Siding Replacement (Vinyl) (74.7% ROI)
Window Replacement (Vinyl) (72.3% ROI)
Deck Addition (Wood) (72.1% ROI)
Window Replacement (Wood) (68.9% ROI)
Entry Door Replacement (Steel) (68.8% ROI)
Deck Addition (Composite) (66.8% ROI)
Nationally—and on the other end of the spectrum—here are the 10 projects with the lowest ROI:
Master Suite Addition (Upscale) (51.6% ROI)
Grand Entrance (Fiberglass) (53.3% ROI)
Major Kitchen Remodel (Upscale) (53.9% ROI)
Bathroom Addition (Midrange) (54% ROI)
Bathroom Addition (Upscale) (54.7% ROI)
Bath Remodel (Upscale) (56.6% ROI)
Master Suite Addition (Midrange) (58.5% ROI)
Major Kitchen Remodel (Midrange) (58.6% ROI)
Roofing Replacement (Metal) (61.2% ROI)
Bathroom Remodel (Universal Design) (62% ROI)
To view the full report, visit https://www.remodeling.hw.net/cost-vs-value/2020/.
If you are thinking about selling or buying your home, contact Lisa Masys (513-236-8333). Lisa is your local Madeira expert with Stanley Realty, the only broker based in Madeira.