Cost vs. Value: 2020 Home Improvement Projects With the Highest ROI

Dated: January 19 2021

Views: 49

Curb appeal really does have a major impact on the return you'll see at resale. Among the top 10 home improvement projects with the highest return on investment (ROI) in Remodeling magazine's newly-released Cost vs. Value Report, nine are outdoor projects.

Related: 4 Resolutions for Home Improvements to Make in 2020

Topping this year's list is Manufactured Stone Veneer, a project that has consistently ranked toward the top of the list since the project was added to the report in 2015.

Unsurprisingly, the report shows an increase in cost for all 22 projects listed; however, there is also a consistent dip across the board in terms of what the perceived value of each of these projects is. This is likely due to a market that was anything but smooth in 2019.

"Why the difference? The most likely answer is consumer jitters," says Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine. "While remodeling professionals need to stay on point, they can breathe easy. Remodeling activity is growing at a slower rate than in years past, but it continues to grow."

Nationally, here are the 10 projects with the greatest ROI, according to the 2020 Cost vs. Value Report:

Manufactured Stone Veneer (95.6% ROI)

  • Average Cost: $9,357
  • Average Resale Value: $8,943

Garage Door Replacement (94.5% ROI)

  • Average Cost: $3,695
  • Average Resale Value: $3,491

Minor Kitchen Remodel (Midrange) (77.6% ROI)

  • Average Cost: $23,452
  • Average Resale Value: $18,206

Siding Replacement (Fiber-Cement) (77.6% ROI)

  • Average Cost: $17,008
  • Average Resale Value: $13,195

Siding Replacement (Vinyl) (74.7% ROI)

  • Average Cost: $14,359
  • Average Resale Value: $10,731

Window Replacement (Vinyl) (72.3% ROI)

  • Average Cost: $17,641
  • Average Resale Value: $12,761

Deck Addition (Wood) (72.1% ROI)

  • Average Cost: $14,360
  • Average Resale Value: $10,355

Window Replacement (Wood) (68.9% ROI)

  • Average Cost: $21,495
  • Average Resale Value: $14,804

Entry Door Replacement (Steel) (68.8% ROI)

  • Average Cost: $1,881
  • Average Resale Value: $1,294

Deck Addition (Composite) (66.8% ROI)

  • Average Cost: $19,856
  • Average Resale Value: $13,257

Nationally—and on the other end of the spectrum—here are the 10 projects with the lowest ROI:

Master Suite Addition (Upscale) (51.6% ROI)

  • Average Cost: $282,062
  • Average Resale Value: $145,486

 Grand Entrance (Fiberglass) (53.3% ROI)

  • Average Cost: $9,254
  • Average Resale Value: $4,930

Major Kitchen Remodel (Upscale) (53.9% ROI)

  • Average Cost: $135,547
  • Average Resale Value: $72,993

Bathroom Addition (Midrange) (54% ROI)

  • Average Cost: $49,598
  • Average Resale Value: $26,807

Bathroom Addition (Upscale) (54.7% ROI)

  • Average Cost: $91,287
  • Average Resale Value: $49,961

Bath Remodel (Upscale) (56.6% ROI)

  • Average Cost: $67,106
  • Average Resale Value: $37,995

 Master Suite Addition (Midrange) (58.5% ROI)

  • Average Cost: $136,739
  • Average Resale Value: $80,029

Major Kitchen Remodel (Midrange) (58.6% ROI)

  • Average Cost: $68,490
  • Average Resale Value: $40,127

Roofing Replacement (Metal) (61.2% ROI)

  • Average Cost: $40,318
  • Average Resale Value: $24,682

Bathroom Remodel (Universal Design) (62% ROI)

  • Average Cost: $34,643
  • Average Resale Value: $21,463
Blog author image

John Tocco

Having the right real estate agent means having an agent who is committed to helping you buy or sell your home with the highest level of expertise in your local market. This means also to help you in ....

Latest Blog Posts

Tenant Sticker Shock: Some Rents Surge 40%

Many tenants are seeing steep increases in their rents, a reversal of the trend during the early phase of the pandemic as urbanites moved to suburbs and exurbs.As they return, they’re seeing

Read More

Hot Home Trend: The Accent Wall Is Back

Make a bold statement with just one wall. The accent or statement wall is coming back as a home trend in 2021, says Brian Santos, director of education for Fresh Coat Painters, a nationwide painting

Read More

Rising Demand Pushes Rents to Double-Digit Growth

Rents are rapidly rising across the country. The U.S. median rental price jumped 11.5% year over year in August to $1,607 per month. That is the first time in two years that the rental market has

Read More

Property Taxes Are About to Rise

Skyrocketing home prices over the last year may soon hit current homeowners in the form of property taxes. Housing experts are predicting property taxes to climb higher in 2021 than the 4%

Read More