According to the latest statistics, the past two years have yielded a 64% average return on investment (ROI) for home improvements projects nationwide. Home prices are still climbing due to an industry-wide shortage so you must be asking, is it really worth the cost to spend thousands of dollars renovating your home for such a low ROI?
Well, the answer is actually yes, BUT only if you consider the most cost-effective home improvement projects, shown to add the greatest value to your home. Projects that will yield the highest return on investment over the long term.
Remolding Magazine has taken the guess work out of the equation and provided a short list of home improvement projects that will yield the biggest bang for your buck.
The 2018 project cost vs value survey indicates that Garage Door Replacement takes the #1 spot with a 98% ROI based on a $3400 project cost. Although don’t expect the impact to the look of your home to be quite so dramatic just by simply replacing your garage door.
Taking the second-place spot for 2018, with a 97% ROI, is the addition of manufactured stone veneer to the exterior of your home. It is generally considered a big project and can cost between $2,000 – $15,000 depending on the area covered and the style/color of the stone veneer. The great news is that it will dramatically increase both curb appeal and the perceived value of your home.
While a beautiful backyard patio or major kitchen/bathroom renovation may sound like the home improvement project to consider the ROI for these types of projects generally comes in at 50% or below and is far less cost-effective than you may want to admit. If you are looking for stone veneer to complete your commercial or residential project, look no further than Mason’s Mark Stone. You can learn more about how to fully customize your stone and realize your vision by calling 724.635.0082 or fill out the form in the sidebar, today.