Some home improvements cost more than they’re worth, while others can increase your home’s value. This list showcases the ten renovation projects with the best return on investment (ROI), based on 14 years’ worth of data.
Remodeling’s Cost vs. Value report comes out every year. We’ve highlighted one of their charts before, but the ROI for a project can increase or decrease every year (e.g., backup generators jumped in 2013, thanks to Hurricane Sandy). HouseLogic took the data from Remodeling since 2002 to find the projects with the most consistent ROI over the long term.
In short, replace your front door or your siding for the best bang for your buck. Three of the top 10 long-term ROI projects are siding replacement, and HouseLogic says that old or worn siding can contribute to a loss of as much as 10% of your home value.
Here’s the full chart:
Of course, if you don’t need a new door or siding, save your money for another project you need or want to do.
Head over to HouseLogic for the full details.