Working on the House this Year? Consider These 5 High-Value Home Improvement Projects

All home improvements are not created equal. 

Some deliver you thousands in resale value and almost a 100% return on your investment, and others? Well, those might just be a waste of cash.

Are you considering updating your house a bit this year? Here are the best home improvements for your money, according to Remodeling Magazine.

1. Install a new garage door.

Remodeling’s data shows a garage door replacement as the top-ROI project out there. The average homeowner recoups around 94% of the door’s cost, netting them $3,663 upon resale. 

If you’re looking for specific guidance on what type of door to install, Remodeling recommends a four-section door with heavy-duty steel tracks, insulated glass windows, and double-coated paint. (See this after photo.)

2. Replace your siding.

If your home has vinyl siding, replacing it can be a great way to up its resale value and get a great return on your investment. There are a few options for materials here, including manufactured stone veneer and fiber cement. 

According to Remodeling, stone veneer is the top choice, as it delivers a 92% ROI and over $9,500 in resale value. Fiber cement siding comes in next with an almost-70% ROI. Fiber cement costs significantly more, though, clocking in with an average job cost of almost $20,000.

3. Remodel your kitchen.

This doesn’t have to be a full-scale kitchen remodel. In fact, Remodeling says a “minor” and “midrange” remodel is best. This involves refacing your old cabinets, adding new hardware, replacing laminate countertops, and installing a mid-priced faucet and sink. Replacing the oven and refrigerator with more energy-efficient ones, adding new flooring, and repainting the walls, trim, and ceiling are also recommended home improvements here.

4. Install new windows.

Updating your windows is next on the list, and Remodeling again has some options here. Vinyl windows offer the highest ROI at almost 69%, while wood windows come in slightly lower at 67%. Wood windows cost about $3,000 more on average.

5. Build a deck.

Adding a 16-by-20-foot wood deck is another high-ROI project. Decks can add around $11,000 in resale value and have a 66% ROI. Just make sure yours is anchored to concrete piers and is built using pressure-treated boards. Remodeling also recommends a built-in bench, stairs, planter, and railing system.

Need money for home improvements?

A cash-out refinance could be a good way to pay for any home improvements you’re considering. To learn about your financing options, reach out to an Embrace Home Loans office in your area today.