Based on the research from National Association of Realtors, American Architects Association, House Logics Cost VS. Value Report, Contractors, Investors and homebuyer wants when purchasing, I’ve put together the return on investments statistics on where home improvements might be made if budget allows when selling your home.
When preparing your home for sale, home improvement projects will update the look of your house, and add value and make you money as well. When getting ready to make improvements, consider the 15% rule on home improvements—do not invest more than 15% of your home’s value into any home project. With this information under your belt, your home improvement project can be a great investment.
Some of the improvements you may be able to tackle yourself, others you may have to hire a professional. In order of priority, I’ll share where you will get your greatest return on investment.
- 865% ROI is an easy update that can get done rather quickly. Replace burnt-out light bulbs and clean windows and skylights. Brightening and lightening your home is very cost effective and inexpensive.
- 260% Repairing and updating defective plumbing and electrical items, provides a large ROI. Paint and repair interior walls with a brand new fresh coat of paint. And patch those chips, holes, or cracks that you’ve been intending to fix for a couple of years. 148% ROI.
- 251% Home Staging-Freshening a space with decor, art, greenery, lighting and staging furniture or renting furniture, livens a space for showings and marketing photos. Consider hiring a staging consultant.
- 148% Paint Interior-Repair any damaged interior walls by patching all chips, holes and cracks; then touch up or repaint interior walls with neutral color.
- 104% If carpets are only soiled, have them professionally cleaned. Should they be thread bare, tattered and torn replace.
- 101.8% Update entry door and jambs and replace with new 20-gauge steel unit, including clear dual-pane half-glass panel, jambs, and aluminum threshold with composite stop.
- 101% Refinish your wood flooring and—with the addition of area rugs—give your home a brand new look.
- 92/2% Adding manufactured stone veneer to foundations, arches, columns, around doors and windows
- 90% ROI. Painting the exterior is a home improvement to enhance the property value of both your home and neighborhood, which makes everybody happy.
- 88.4% Install new 4-section, uninsulated, single-layer, embossed steel garage door with galvanized steel hinges and nylon rollers, on new galvanized steel tracks; using existing motorized opener.
- 80.7% Replace old, dated color, worn, dented or damaged siding with new vinyl siding, including all trim.
- 80.5% Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing system using pressure-treated wood posts, railings, and balusters.
- 80% ROI new windows have an ROI of over 80%
- 79.3% Minor Kitchen Remodel- In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install midpriced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.
- 79.3% Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom; construct 24 linear feet of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code. (Bar area: Include 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile. Main room: Include 15 recessed ceiling light fixtures and three surface-mounted light fixtures, and a snap-together laminate flooring system. Bathroom: Include standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware).
- 77.6% Basement Remodel- Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom; construct 24 linear feet of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code. (Bar area: Include 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile. Main room: Include 15 recessed ceiling light fixtures and three surface-mounted light fixtures, and a snap-together laminate flooring system. Bathroom: Include standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware).
- 77.2% Attic Bedroom- Convert unfinished attic space to a 15-by-15-foot bedroom and a 5-by-7-foot bathroom with shower. Include a 15-foot shed dormer, four new windows, and closet space under the eaves. Insulate and finish ceiling and walls. Carpet floor. Extend existing HVAC to new space; provide electrical wiring and lighting to code. Retain existing stairs, but add rail and baluster around stairwell.
- 74.3 Composite Deck- Add a 16-by-20-foot deck using pressure-treated joists supported by 4×4 posts anchored to concrete piers. Install composite deck material in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing using a matching system made of the same composite as the decking material.
- Major Kitchen Remodel- Update an outmoded 200-square-foot kitchen with a functional layout of 30 linear feet of semi-custom wood cabinets, including a 3-by-5-foot island; laminate countertops; and standard double-tub stainless-steel sink with standard single-lever faucet. Include energy-efficient wall oven, cooktop, ventilation system, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.
- 72.5% Update an existing 5-by-7-foot bathroom. Replace all fixtures to include 30-by-60-inch porcelain-on-steel tub with 4-by-4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.
- 71.8% Two-Story Addition-Add a first-floor family room and a second-floor bedroom with full bathroom in a 24-by-16-foot two-story wing over a crawlspace. Add new HVAC system to handle addition; electrical wiring to code. (Family room: Include a prefabricated gas fireplace; 11 3-by-5-foot double-hung insulated clad-wood windows; an atrium-style exterior door; carpeted floors; painted drywall on walls and ceiling; and painted trim. Bathroom: 5 by 8 feet. Include a one-piece fiberglass tub/shower unit; standard white toilet; wood vanity with solid-surface countertop; resilient vinyl flooring; and mirrored medicine cabinet with built-in light strip; papered walls; and painted trim; exhaust fan. Bedroom: Include walk-in closet/dressing area; carpet; painted walls, ceiling, and trim; general and spot lighting).
- 70.8% Fibre Glass Entry Door Replacement- Remove existing 3-0/6-8 entry door and jambs and replace with new fiberglass unit with simulated wood grain, stained same color both sides; dual-pane, decorative half-glass panel with zinc caming; PVC-wrapped exterior trim in color to match existing trim; 2.5-inch interior colonial or ranch casings in hardwood stained to match door. Replace existing lockset with mortise lock with lever handle and integrated deadbolt in oil-rubbed bronze or satin-nickel finish.
- 69.3% Garage Addition- Construct a 26-by-26-foot freestanding two-car garage, including footings and slab-on-grade foundation, 2×4 wood frame with OSB structural sheathing, and gable truss roof at 6/12 pitch. Install 25-year asphalt shingle roofing with galvanized metal flashing; vinyl siding and trim. Install five double-hung 30-by-48-inch vinyl windows; one 3-0/6-8 exterior door with half-glass and lockset; and two composite 9-by-8-foot overhead doors with motorized openers. Include 100-amp breaker at main house panel and 50 linear feet of trench buried conduit to feed new electrical subpanel. Provide electrical wiring for openers; three-way switching for fluorescent ceiling fixtures over each bay; three-way switching for two exterior spotlights; outlets to code. Interior wall, floors, and ceilings remain unfinished.
- 67.6% Roof Replacement Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of 235-pound fiberglass asphalt shingles (min. 25-year warranty) with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge.
- 67.5% Master Suite Addition- Add a 24-by-16-foot master bedroom suite over a crawlspace. Include walk-in closet/dressing area, whirlpool tub in ceramic tile platform, separate 3-by-4-foot ceramic tile shower, and double-bowl vanity with solid-surface countertop. Bedroom floor is carpet; bathroom floor is ceramic tile. Painted walls, ceiling, and trim. General and spot lighting, exhaust fan; electrical wiring to code
- 60.1% Bathroom Addition- Add a full 6-by-8-foot bathroom over a crawlspace with poured concrete walls. Include cultured-marble vanity top with molded sink; standard chrome faucets; 30-by-60-inch white fiberglass tub/shower with ceramic tile surround; single-lever temperature and pressure-balanced faucet; white low-profile toilet; general and spot lighting; electrical wiring to code; mirrored medicine cabinet; linen storage closet or cabinet; vinyl wallpaper; painted trim; and ceramic tile floor.
- 28% Landscaping