Not all home improvements are created equal. Even though conventional wisdom says that updated kitchens and baths sell homes, they don’t necessarily recoup the cash you put into the makeover.
In fact, there’s only one upgrade that gets back every dollar you put in plus some, according to the 2016 Remodeling Cost vs. Value Report from Remodeling magazine, and it’s about as unglamorous as home improvements get. Overall, payback from remodeling projects increased 6.7 percent from 2015 due to bigger and costlier projects, increasing new-home prices and the popularity of energy efficiency.
Related: 7 Fixes to Do Now to Sell Your House in the Spring
Remodeling can bring increased happiness as well for homeowners, according to a report from the National Association of Realtors looking at the impact of home improvements. Nearly two-thirds of homeowners enjoy their home more after completing a remodeling project, while three-quarters said they felt a big sense of accomplishment.
Here are the best ways, value-wise, to invest up to $20,000 in your home based on how much you will get back from the remodeling project.
13. Backup power generator
Cost: $12,712
Resale value: $7,556
Percentage of cost recouped: 59.4%
12. Deck addition (composite)
Cost: $16,798
Resale value: $10,819
Percentage of cost recouped: 64.4%
11. Bathroom remodel
Cost: $17,908
Resale value: $11,769
Percentage of cost recouped: 65.7%
10. Roofing replacement
Cost: $20,142
Resale value: $14,446
Percentage of cost recouped: 71.7%
9. Siding replacement (vinyl)
Cost: $12,341
Resale value: $9,032
Percentage of cost recouped: 73.2%
8. Deck addition (wood)
Cost: $10,471
Resale value: $7,850
Percentage of cost recouped: 75%
7. Siding replacement (engineered)
Cost: $13,832
Resale value: $10,866
Percentage of cost recouped: 78.6%
6. Entry door replacement (fiberglass)
Cost: $3,126
Resale value: $2,574
Percentage of cost recouped: 82.3%
5. Minor kitchen remodel
Cost: $20,122
Resale value: $16,716
Percentage of cost recouped: 83.1%
4. Entry door replacement (steel)
Cost: $1,335
Resale value: $1,217
Percentage of cost recouped: 91.1%
3. Garage door replacement
Cost: $1,652
Resale value: $1,512
Percentage of cost recouped: 91.5%
2. Manufactured stone veneer
Cost: $7,519
Resale value: $6,988
Percentage of cost recouped: 92.9%
1. Attic insulation (fiberglass)
Cost: $1,268
Resale value: $1,482
Percentage of cost recouped: 116.9%
