When considering a home remodel, it's important to think about the return on investment (ROI). Certain remodels can increase the value of your home and provide a significant return when it comes time to sell. To help you make the most of your remodel, we've compiled a list of the top 10 remodels that give you the best ROI.
Kitchen Remodel
The kitchen is often considered the heart of the home, and a remodel can have a significant impact on your home's value. A minor kitchen remodel, which includes updating appliances, countertops, and cabinets, can provide an average ROI of 81.1%, while a major remodel that involves a complete overhaul of the space can provide an ROI of up to 59%.
Bathroom Remodel
A bathroom remodel can also provide a significant ROI, with an average of 70.1% for a mid-range remodel and 58.6% for a high-end remodel. Upgrades such as replacing the tub or shower, updating the flooring and fixtures, and adding a double sink can help increase the value of your home.
Outdoor Living Space
Outdoor living spaces such as decks, patios, and porches are becoming increasingly popular and can provide a great ROI. A wooden deck can provide an average ROI of 75.6%, while a patio can provide an average ROI of 55.2%. Adding a fire pit or outdoor kitchen can also help increase the value of your home.
Attic Insulation
Upgrading your attic insulation may not be the most glamorous remodel, but it can have a big impact on your home's value. Adding insulation can help improve energy efficiency and reduce heating and cooling costs, providing an average ROI of 107.7%.
Garage Door Replacement
Replacing your garage door is another simple remodel that can provide a significant ROI. A new garage door can help improve curb appeal and provide an average ROI of 97.5%.
Window Replacement
Replacing old, inefficient windows with energy-efficient ones can also provide a significant ROI. Depending on the type of window and the location of your home, a window replacement can provide an average ROI of 70.3%.
Siding Replacement
Replacing old, worn-out siding can help improve the appearance of your home and provide a significant ROI. Depending on the material used, a siding replacement can provide an average ROI of 75.6%.
Basement Remodel
If you have an unfinished basement, a remodel can help increase your home's value. Adding a bathroom, bedroom, or home theater can provide an average ROI of 70.3% for a mid-range remodel and 49.9% for a high-end remodel.
Front Door Replacement
Replacing your front door can help improve curb appeal and provide a significant ROI. Depending on the material used, a front door replacement can provide an average ROI of 91.3%.
Adding a Room
If you have the space and budget, adding a room to your home can provide a significant ROI. A mid-range addition, such as a family room or sunroom, can provide an average ROI of 62.8%, while a high-end addition such as a master suite or guest room can provide an average ROI of 48.3%.
Conclusion
When it comes to home remodels, it's important to consider the ROI. While certain remodels may be more expensive upfront, they can provide a significant return when it comes time to sell your home.