6 home improvement projects with the biggest return

Before starting a home improvement project, do you ever wonder if buyers will see the same value you do? Many updates are made just for you and your family, but some will deliver a bigger bang for your buck than others. Remodeling magazine has come out with their 2024 cost vs. value report. The report looks at the average cost of various home improvement projects and the resale value of those costs. We’ve broken down the results so you can get to work on the projects that will make a big difference at resale time.

Home improvements you’ll learn about:

• Garage door replacement
• Entry door replacement (steel)
• Manufactured stone veneer
• Fiberglass grand entrance
• Minor kitchen remodel
• Siding replacement

1. Garage door replacement: best cost vs. value

Job Cost: $4,513

Resale Value: $8,751

Cost Recouped: 194%

When anyone pulls up to your home and parks their car, they’re staring right at the garage door. It makes a huge first impression, especially when it’s treated as the front door. Whether it’s a simple upgrade or a major one that alters the entire aesthetic of your home, a garage door upgrade will almost always see a big return on investment not only because the door is new, but also because it adds to your overall home’s curb appeal.

2. Entry door replacement (steel): simple DIY improvement project

Job Cost: $2,355

Resale Value: $4,430

Cost Recouped: 188%

Nothing says “welcome to our home” better than a beautiful front door. There is definitely a theme to this list of which home improvements offer the best value. A potential homeowner begins to assess whether they could see themselves living there as soon as they see your home’s exterior. Remodeling magazine points out that a steel door will have a better ROI than a wood door, simply because a wood door is more expensive. Do an update if your door feels dated and unwelcoming.

3. Manufactured stone veneer: great ROI, better curb appeal

Job Cost: $11,353

Resale Value: $17,291

Cost Recouped: 153%

If your home is currently vinyl siding on vinyl siding, consider this home improvement. When done right, a manufactured stone veneer can really update a home and add a lot of curb appeal to the home. You will commonly see the stone veneer around the base of a home and the entryway. Manufactured stone is made of cement and other materials that look like real stone, but at a much lower cost. It is very hard to tell the difference up close, which is why the ROI is so high.

4. Fiberglass grand entrance: an elegant upgrade with solid ROI

Job Cost: $11,353

Resale Value: $11,054

Cost Recouped: 97%

While it doesn’t quite bring the same ROI a steel door upgrade brings, a fiberglass grand entrance produces an elegant first impression to your home and still has a great ROI. Not only does a fiberglass entrance look great, but it tends to be more durable than other options and helps to avoid drafts of frigid air during the winter.

5. Minor kitchen remodel: keep it simple to recoup costs

Job Cost: $27,492

Resale Value: $26,406

Cost Recouped: 96%

It seems like many home improvement shows focus on the kitchen because a complete remodel can yield some dramatic results. But, a minor kitchen remodel may be key. You want to remodel for your benefit, but be careful about appealing too much to your own personal tastes. If you plan on selling in the next few years, pick a countertop that has universal appeal. If you want to get the most back for your money, replace the front of your cabinets and purchase some new appliances instead of gutting the entire kitchen.

6. Siding Replacement

Job Cost: $20,619

Resale Value: $18,230

Cost Recouped: 88%

A home can look completely different with a siding replacement. It can also be a good idea to protect against water damage and unwanted critters. If there are any areas on your siding that look worrisome, a future homebuyer may take notice. Take your time picking out the color and type of siding since this can be a big change to the overall look of your home. Prioritizing and funding your projects The improvements listed above are ones that you will want to enjoy for a while. Even though you may get a good return on your projects, you will need to save and plan. Take a look at your potential expenses and get tips on how to budget for your next renovation. Put your money in a high-interest savings account or research your loan options. Pick the projects that you are most excited about. It’s always a bonus to know that future homebuyers will see the value as well.

Prioritizing and funding your projects

The improvements listed above are ones that you will want to enjoy for a while. Even though you may get a good return on your projects, you will need to save and plan. Take a look at your potential expenses and get tips on how to budget for your next renovation. Put your money in a high-interest savings account  or research your loan options. Pick the projects that you are most excited about. It’s always a bonus to know that future homebuyers will see the value as well.