Top 10 Remodeling Projects With the Best ROI

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Top 10 Remodeling Projects With the Best ROI
Top 10 Remodeling Projects With the Best ROI

 

Every smart homeowner knows that major—or even minor—remodeling projects should be undertaken with one eye on design and the other on the ROI. You want to be comfortable with whatever return on investment you receive for upgrading your home because, unfortunately, many upgrades won’t entirely recoup their cost upon sale. But the use you get out of the home with the upgrade might still make the construction worthwhile, regardless of the ultimate selling price.

Here’s the top 10 remodeling projects that provide the best return on investment nationally:

RANKING

PROJECT

COST     RECOUPED

AVERAGE JOB COST

RESALE VALUE

10

Add a family room

69.3 percent

$89,566

$62,055

9

Finish the basement (cost estimate includes bar area, main room and bathroom)

70 percent

$71,115

$49,768

8

Add a two-story addition (cost estimate includes adding a family room, bedroom and bathroom)

71.1 percent

$176,108

$125,222

7

Add a wood deck (cost estimate includes built-in bench and planter)

71.5 percent

$10,707

$7,652

6

Replace the siding

76.4 percent

$14,518

$11,093

5

Replace the garage door

76.9 percent

$1,749

$1,345

4

Complete a minor kitchen remodel (cost estimate includes new cabinet fronts and hardware, new energy-efficient appliances, laminate countertops, mid-priced sink and faucet, dingy floor replacement and wall paint)

80.2 percent

$20,830

$16,699

3

Install a manufactured stone veneer (instead of vinyl siding)

89.4 percent

$7,851

$7,019

2

Replace your entry door with a steel door

90.7 percent

$1,413

$1,282

1

Add fiberglass attic insulation

107.7 percent

$1,343

$1,446

* data from Remodeling Magazine's annual Cost vs. Value report
 

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