Which Renovations Add Most Value to Your Home?

Renovations can make you happier in the place you call home, and that’s reason enough to invest in them. But some remodels are pricier than others—so it may be helpful to know, before you invest, which updates are apt to add more value than others when the time comes to sell or refinance.

Results of the 2020 Cost vs. Value Report from Remodeling magazine as well as independent surveys of real estate professionals, indicate five of the mid-priced projects likely to deliver highest returns:

  1. Manufactured stone veneer – Adding stone veneer to replace the vinyl siding on the street-facing wall of your home, such as the entryway area, is an eye-catching cosmetic improvement that experts say will recoup 95 percent of its cost—likely around $10,000 for an entryway project.
  2. Garage door replacement – Another curb appeal enhancer, a good-looking garage door will get you back around 95 percent of the approximate $3,000 to $4,000 you spend for a handsome door with a motorized garage door opener.
  3. Minor kitchen remodel – A minor remodel, including energy-efficient appliances, refaced cabinets, new countertops, new flooring, and a new sink and faucet, creates a modern, functional kitchen that will boost your enjoyment of cooking and sharing meals. You’ll likely spend close to $25,000 for the pleasure. But experts say you will recoup 77 percent of that when you sell, because buyers see the value in it.
  4. Window replacement – You could recoup around 72 percent of the cost to replace your current windows if you install low-E, simulated-divided-light vinyl windows with a custom-color exterior finish. (Low-E means low emissivity, an energy saver.) Average cost: about $17,000.
  5. Siding replacement – Vinyl or fiber-cement siding replacement, costing between $15,000 and $17,000 for a 1,250 square foot home decidedly freshens a home’s exterior—and estimates are you will get back about 75 percent of the cost at sale time.