Remodeling magazine released its annual “Cost vs. Value Report,” which is based on interviews with real estate professionals throughout the country. It found that the 29 projects in the 2017 report paid back an average of 64.3 cents on the dollar in resale value. Generally speaking, projects that improved curb appeal, such as changes to doors, windows and siding resulted in a higher return on investment than work done inside the home.
Out of the projects surveyed, the only one that returned a higher value than its cost was an attic insulation project with a 107.7% return on investment upon resale. This was followed by a steel entry door replacement (90.7% return) and manufactured stone veneer (89.4%).
On the flip side, the lowest return on investment of all projects was a midrange bathroom addition, with just a 53.8% return. What’s more, not a single kitchen or bathroom remodeling project ranked higher than 17th out of the 29 projects. In fact, on average, the replacement projects in the report recouped a higher return on investment than remodeling projects, earning back 74% and 63.7%, respectively.
Click here to access the “Cost vs. Value” website, where you can download data for all regions of the country.
