Which 2018 Home Improvements Offer the Best ROI?
Which home improvements offer the best ROI in 2018? You’ve heard that kitchens and bathrooms offer the greatest return on investment. Let’s see if that’s still true.
Home improvements that increase value in 2018:
These 5 renovation projects return an ROI of 98- 80% of their cost.
- Garage door replacement
Trends come and go, but replacing a worn out garage door adds curb appeal and perceived value.
Avg. Cost: $3470.
- Manufactured Stone Veneer –
If appropriate, replacing tired vinyl siding with stone veneer also gives curb appeal a boost and ties into the trend for mimicking natural surfaces.
Avg. Cost: $8221.
- Entry Door –
Upgrading the entry door to a steel and glass half panel door with jamb and threshold.
Avg. Cost: $1471.
- Adding Wood Deck
Adding a deck to a yard or garden enhances the outdoor living space and creates the impression of having additional outdoor “rooms”
Avg. Cost: $10,950
- Kitchen Remodel -Minor
Instead of gutting the kitchen; resurfacing cabinet fronts, updating appliances, replacing counter tops and sink can net a good result without a huge expensive outlay. Expect to recoup about 80% of the expense when selling.
Avg. Cost: $21,198
Mid Range Price Point? These home improvements help your bottom line by 108 – 77%.
- Installation of attic with insulation – 108%
- Steel Entry Door Replacement
- Manufactured Stone Veneer
- Minor Kitchen Remodel
- Garage Door Replacement – 77%
Upscale price point? These home improvements help your bottom line by 85-70%.
- Garage Door Replacement – 85%
- Fiberglas Entry Door Update
- Vinyl Window Replacement
- Wood Window Replacement
- Fiberglas Grand Entrance – 70%
Surprisingly, big kitchen and bathroom renovations are not rated as well as past years, however these key rooms still need to wow buyers to get them to commit.
Doors and minor kitchen remodels stand out as winners in 2018.
As always location trumps anything you spend on upgrades but the average return on investment is 64.3%.
Making these desired upgrades fit your remodeling budget is the key to making them profitable. Don’t overspend and your home improvement ROI will beat predictions.