Will Your Remodel Pay Off? Find Out Which Projects Have the Best ROI

With warmer weather comes the urge to visit Home Depot and start daydreaming about home remodeling projects. If you’re considering a renovation (whether DIY or hiring a professional), one big question often comes to mind: Will I recoup my investment if I sell my house?

Your return on investment (ROI) for remodeling projects depends on where you live in the United States and the type of project you’re tackling.

According to the Remodeling 2024 Cost vs. Value Report (www.costvsvalue.com), “The project with the highest average ROI nationwide is replacing the garage door, with an average ROI of 194%, followed by replacing the exterior door (188% ROI) and installing manufactured stone veneer (153% ROI).”*

In fact, the cost-recoup percentage can be even higher in the Pacific region (Alaska, Washington, Oregon, California, and Hawaii). For example, replacing a garage door in the Pacific region costs around $4,554, but it results in a resale value of $11,417, offering an impressive 250.7% ROI!*

What else has a high ROI in the Pacific? Here are the top projects:

1. Garage Door Replacement

2. Entry Door Replacement (Steel)

3. Manufactured Stone Veneer

4. Grand Entrance (Fiberglass)

5. Minor Kitchen Remodel (Midrange)

6. Fiber-Cement Siding Replacement

7. Wood Deck Addition

8. Midrange Bath Remodel

9. Vinyl Siding Replacement

10. Composite Deck Addition

These numbers are based on averages, but of course, do not guarantee that your specific property will experience the same ROI. Typically, highly customized or niche remodels may not offer as high a return as projects that appeal to a wider set of homebuyers. So, it’s important to consider which renovations will provide the best value in your local market.

One thing to keep in mind: before you spend money on a remodeling project to prepare your home for sale, reach out to us!

California has very few point-of-sale requirements for properties—repairs that must be completed to close escrow. If time is of the essence or cash is tight, we often recommend placing your home on the market “As-Is” without doing pre-market repairs or upgrades.

Keep in mind, when you start a remodel, sometimes you uncover more issues than you bargained for. For example, opening up a wall could reveal hidden problems that need fixing. Since California sellers must disclose what they know about a property, you would then be required to tell potential buyers about these discoveries.

What’s your favorite home remodeling project that you’ve ever completed?

If you have any questions or need advice, feel free to reach out. We’re here to help!