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Home improvements: Which ones recoup the most money?

 NEW YORK – Jan. 19, 2017 – If a home improvement project costs $1,000, how much money will the homeowner get back if he sells the home – his return on investment (ROI)? In 2017, only attic insulation recoups more than its cost.

The 2017 Cost vs. Value Report looked at 99 U.S. markets and compared the average cost of 29 remodeling projects to their average resale value one year later. Overall, every dollar spent on remodeling returns 64.3¢ at the time of sale, but the ROI varies greatly depending on the project.

Year-to-year, the cost of remodeling projects rose 3 percent; however, the value of those projects at the time of sale rose 4.2 percent

Top projects for a high return on investment

Midrange cost category

Attic insulation (fiberglass) (107.7% ROI)
Entry door replacement (steel) (90.7% ROI)
Manufactured stone veneer (89.4% ROI)
Minor kitchen remodel (80.2% ROI)
Garage door replacement (76.9% ROI)

Upscale cost category

Garage door replacement (85.0% ROI)
Entry door replacement (fiberglass) (77.8% ROI)
Window replacement (vinyl) (73.9% ROI)
Window replacement (wood) (73.0% ROI)
Grand entrance (fiberglass) (70.1% ROI)

Projects with the lowest return on investment

Midrange cost category

Bathroom remodel (64.8% ROI)
Master suite addition (64.8% ROI)
Backyard patio (54.9% ROI)
Backup power generator (54.0% ROI)
Bathroom addition (53.9% ROI)

Upscale cost category

Major kitchen remodel (61.9% ROI)
Master suite addition (59.9% ROI)
Bathroom remodel (59.1% ROI)
Bathroom addition (57.1% ROI)
Deck addition (composite) (56.4% ROI)

Republished from © 2017 Florida Realtors