Wondering what are the top home remodeling projects? This infographic represents the Cost vs Value Report 2013 by NAR and Remodeling Magazine.
Home Improvement ROI isn’t like they show on TV
Watching home improvement TV shows like Love it or List it, give the impression that you will not only recoup all of your money on home improvements, including decor, but that you’ll make a tidy profit. Flippers do this all the time. The thing is that generally speaking, few projects will recoup 100% ROI, and most that do, only do so because they are changing out very dated, broken, or severely damaged areas. In order for this to be successful, flippers also must purchase the home significantly below market value.
Most homes aren’t purchased significantly below market, and most home improvements are often about personal taste preferences, lifestyle choices, or long term gains (like replacing an old water heater with a tankless option).
When it comes to home improvement or remodeling projects done for the sake of preparing your home for market, or when you know that you’ll be moving soon, it is best to contact a professional home stager. When doing them to live in the home, it is still helpful to know what you may expect as a return on your investment
Top 10 Home Remodeling Projects
In the order of the largest to smallest return on investment, here are your top 10 home remodeling projects
- Entry Door Replacement (Steel) – 85.6%
- Deck Addition (Wood) – 77.3%
- Garage Door Replacement – 75.7%
- Minor Kitchen Remodel – 75.4%
- Window Replacement (Wood) – 73.3%
- Siding Replacement (Vinyl) – 72.9%
- Attic Bedroom – 72.9%
- Window Replacement Vinyl – 71.20%
- Basement Remodel – 70.3%
- Major Kitchen Remodel – 68.9%
View the Cost vs Value Report 2013 to read more about the top home remodeling projects and the Top 10 Upscale Remodeling Projects