Whether you want to make improvements to your newly purchased home or are interested in increasing the resale value of your property, it’s still important to choose your remodeling projects carefully. Here are some of the top projects that will give you the best return on your investment (ROI):
Replacing exteriors with upscale fiber cement siding. Siding pays back a whopping 78 percent, on average, of the $13,461 average cost. The most cost-effective project you can do to your home this year is to replace old siding with new, higher-end fiber cement.
Replacing an entry door with a 20-gauge steel door is another cost-effective upgrade. At $1,238, on average, this project pays back an average of 73 percent and can greatly improve your property’s curb appeal.
Replacing garage doors also can enhance curb appeal. Homeowners typically wouldn’t consider this project unless their current doors are not working properly, but it pays back 71.9 percent, on average, of the $1,512 average cost. A high-end garage door replacement recoups almost as much: 71.1 percent of the $2,994 average cost.
A minor kitchen remodel pays back an average of 72.1 percent of the $19,588 investment, on average. This project typically includes adding new laminate countertops, sink, faucets, and appliances. The floor is untouched, but existing cabinets are refaced and new hardware is added.
A new wood deck earns back an average of 70.1 percent of its $10,350 cost, on average.