High-return home renovations include:*
1. New garage door.
A garage door replacement is one of the few home renovations that may net you equal or more than what you put in—around 103 percent.* The good news is that it’s not the most expensive upgrade. Replacing your garage door may cost an average of $4,302, recouping around $4,418. A new garage door helps to improve the curb appeal of your house** and typically comes with a lifetime warranty.
2. Stone veneer.
Similarly, replacing vinyl siding with stone veneer is a fairly affordable project (comparatively speaking) that can net one of the highest returns. Installing manufactured stone veneer may cost an average of $10,925, providing a resale value of roughly $11,177. That’s a 102 percent return.*
3. Front door replacement.
Putting in a new front entry door could yield a return of around 101 percent.* Another advantage of this upgrade is its modest price tag, costing about $2,214. Something as simple as a new front door could boost your home’s value and help strengthen your home security.**
4. Minor kitchen remodel.
A minor kitchen update is one of the home renovations that comes to mind whenever you think of what to upgrade first. The kitchen is said to be the most important room in the house. It’s frequently used, and it’s a hub for socializing. A minor remodel, which includes replacing cabinet panels, drawer hardware, appliances, countertops, and flooring, could bring as much as an 86 percent return.*
For the most accurate information: Click into the Cost vs. Value Report and find where data is broken down by city. This will tell you how much the cost and ROI of a project may fluctuate based on your area. It can also be helpful to consult a real estate agent to see which home renovations local homebuyers are interested in.