Home Improvement Projects With the Highest Return On Investment
RisMedia recently posted an article about home remodels. The nationwide stats is very similar to our area in Central Minnesota!
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) inRemodeling magazine's newly-releasedCost vs. Value Report, nine are outdoor projects.
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."
Here are the top 22 projects with the greatest ROI, according to the 2020 Cost vs. Value Report for our region.
You may be surprised how low your return is on some of them!!
The 2020 Cost vs. Value Report compared the average costs for 22 popular remodeling projects and how much of that value they retained in 101 different U.S. housing markets.View the full report, including project descriptions and city-level data,here.
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