5 Home Renovation Projects with the Highest ROI
We all want the perfect house, and of course, we want it to be comfy, updated and welcoming at all times! Keeping it updated can force us to dip into our savings account and it may seem as though the updates are a never-ending-list. It is important to know the average return on investment (ROI) of the projects you are thinking about completing so you can get the biggest bang for your buck. This could help you with the decision-making process of what needs to be renovated in your home before you sell.
Being happy with your home is a big factor with ROI, however, below are the 5 Highest ROI Home Renovation Projects.
Entry Door Replacement
We know it sounds simple, but it’s true. Replacing your front door can make a huge impact on the value of your home. However, be sure to choose a style that fits well with the style of your home. If it doesn’t flow with the style, it can actually decrease the ROI. Steel doors bring in a bigger ROI with a national average of 101.8%. Fireglass doors bring in an ROI of 72% and Grand Entrance Fiberglass brings in an ROI of 67.6%.
Installing A New Fireplace
Many buyers love having a cozy fireplace in their home. According to Marshall & Swift’s Appraisal Handbook, 91% of the installation costs of a putting in a new fireplace are recouped and bring in an average of 54% ROI.
This room can make or break the sale of your home. Want to make your home impossible to walk away from without receiving an offer? Update the kitchen. If you do not have enough in the budget to update the entire kitchen, start with these spots:
Most Popular Replacements in Kitchen Remodel:
74% Update Countertops
70% Update Paint/Wallpaper
67% Update Cabinetry
64% Update Flooring
Turn an Attic Into a Bedroom
On average, converting an attic into a bedroom will increase your home value by nearly $39K. If you decide to take this route, note you may need to get estimates on these changes to bring the bedroom to life:
Strengthen the floor, insulate, and finish
Adding a dormer
Creating stair access
Adding a bathroom
Replacing siding can create some massive curb appeal for your home. It will give your home a fresh and beautiful look. This ROI varies across regions of the U.S., however, the national average ROI is 80.7% for Vinyl Siding, 84.3% for Fiber Cement Siding, and 77.6% for Foam Backed Vinyl.
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Colleen, Paul and Elena, Thank you for all of your help in selling my brother’s house at 1008 Becker. Penny Farrall told me she had located a good realtor for me and she was so on target. It is hard... Read full review
Paul and Colleen Tosello have exceeded our expectations of realtors in every way - in fact, over the course of our experience with them they served as so much more! We relocated to Keller on a job transfer and... Read full review
Paul and Colleen were absolutely wonderful. We started our home buying process while living across the country. They both met with us numerous times when we would fly in, over zoom meetings, as well as with our... Read full review
Thank you all for your help!
Colleen, Paul and Elena,
Thank you for all of your help in selling my brother’s house at 1008 Becker. Penny Farrall told me she had located a good realtor for me and she was so on target.
It is hard selling a piece of property that isn’t yours, is filled with stuff and is 2,000 miles away. You all made it so much easier.
Paul – you were spot on with the sales price and marketing. There were so many offers to choose from.
Elena – I appreciated all of your communication with me throughout the process as well as checking on the vacant house from time to time.
Colleen – we had the most interaction with each other over the last several months. I so appreciated your calm, knowledgeable approach as you guided me through the various legs of the journey.
Paul and Colleen Tosello have exceeded our expectations of realtors in every way - in fact, over the course of our experience with them they served as so much more!
We relocated to Keller on a job transfer and chose Paul and Colleen after being referred through the Ramsey network. Almost immediately, we received a call from Paul. He spent 45 minutes on the phone with us genuinely investing in getting to know us and learning what our needs were. We were blown away by how kind and professional he was and committed to them.
We briefly explored the existing home market but ended up building. They expertly guided us through the process, gave us sound advice and made sure the build was a good investment for our family. Over the last year, Colleen has been a tireless advocate in dealing with the builder and our mortgage company.
Colleen did all that while also giving us great advice on many different questions we had about the area and other services (schools, churches, contractors, childcare, etc.). We are incredibly thankful for their professionalism and guidance - we couldn’t have done it without them!
Hands down the best realtor experience we’ve ever had in our 10 (yes, 10) moves! Highly recommend!!
Professionalism, Quality, Responsiveness, Value
Paul and Colleen were absolutely wonderful. We started our home buying process while living across the country. They both met with us numerous times when we would fly in, over zoom meetings, as well as with our builder. Colleen and Paul know the area inside and out and have helped us (and still are!!) with getting us involved in the community. Absolutely wonderful team. We highly recommend them. We consider them dear to our hearts. Thank you for everything.