Every year, Remodeling magazine ranks the return on investment for more than 20 common remodeling projects. In this year’s Cost vs. Value Report, ROI ranged from 47.6% all the way up to 98.3% when you look at national averages. The winner for the highest ROI was an upscale garage door replacement, costing about $3,500 and recouping almost all of that investment. The worst ROI was a backyard patio.
Other Improvements With Poor ROI
Admittedly, if you’re not looking to sell your house in the foreseeable future, adding a new patio on which you can relax and have family time might be worth the loss. However, some of the other losers may surprise you. If you live in an upscale neighborhood and feel that your house may sell better with a modern bathroom, it may sell faster – but you likely won’t see the return you were expecting. An upscale bathroom remodel may cost you more than $60,000, but you may only see a $34,000 return.
Kitchen remodeling has a return of only about 54% when you do an upscale remodel. This seems quite contradictory when so many buyers cite great kitchens as a reason for buying a home; however, your tastes may not be the same as the buyer. Consider pricing your home accordingly if you’re going to sell it with a dated kitchen and save yourself time, frustration and money.
Improvements with Better ROI
There are several home improvement projects that make more sense if you’re looking to sell your home. We already mentioned that the best in this year’s survey was the garage door. The next two best improvements are exterior stone veneer and a replacement entry door. Another is replacing wood windows. Are you noticing what all these top returning improvements have in common? They are on the home’s exterior and make for less maintenance. The entry door, garage door and windows may also make your home more secure and better insulated against the weather. A prospective buyer may see a great-looking home that doesn’t need much work every year.
Although the report doesn’t list every possible home improvement and the associated ROI, we can make some conclusions. Home improvements that make for less maintenance while making your home look great help with resale. If you look at your home, ask yourself what you can improve on its exterior. You’ll notice that buying gutters and rain gutter shields isn’t something ranked by the Cost vs. Value Report, but based on the benefits they bring, you can conclude that both would bring a good ROI – especially if your current gutters are old and failing. New gutters will make your house look great and when you add rain gutter shields, future homeowners will love the idea of never needing to clean their gutters.
If you’re considering buying gutters or rain gutter shields because your home could benefit or for resale, call (800) 824-3772 today. We’ll connect you with your local Gutter Helmet dealer to learn more.
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