Getting the Best ROI on Your Home Improvement Projects

With so many of us spending so much more time at home these days, the comfort and functionality of where we live is becoming increasingly important. If you’re thinking about making some improvements to your home, it’s essential to know that, when it comes to a return on investment (ROI), not all remodeling projects are created equal. Here’s how to make the most of your home remodeling budget.

1. Decide whom you’re remodeling for.

Before taking on any remodeling project, determine what’s most important:  increasing the value of your home to yourself or a future buyer, should you decide to sell. Obviously, the most valuable remodeling projects are those that increase your home’s worth in fair relation to the amount of money you invested.

2. Know which projects bring the highest return.

When it comes to advising our clients on what they can reasonably expect to recoup from their investment, we consult the annual Cost vs. Value Report for our region. This go-to industry resource compares the average costs of 22 remodeling projects with the value those projects retain at resale. 

Below are some of the highest-ranking remodeling projects in New Hampshire* and New England.

1. Composite Deck Addition

New Englanders like to enjoy their time outside when they can, so it’s probably not much of a surprise that you’ll get a high return on investing in a composite deck—an average ROI of 98.3% for New Hampshire and 72.4% for New England.

Materials Matter:  It’s important to note that wood decks don’t command as high of a return, with an average ROI of 43.2% for New Hampshire and 67.5% for New England.

2. Grand Entrance

When it comes to curb appeal, first impressions count—a lot. Widening your door frame and installing a new fiberglass door with dual sidelights, decorative half-glass, PVC-wrapped exterior trim with matching stained hardwood brings in an average ROI of 75.9% for New Hampshire and 51.0% for New England.

3. Bathroom Remodel

When it comes to home remodeling ROI, bathrooms are still bringing it. But it’s important to remember that spending a lot doesn’t mean you’ll get more back, as noted by the stats below.

Pro Tip: You don’t have to spend a lot of money to create a look of luxury in your bathroom. For your best investment, consider installing custom cabinetry, or splurge on high-end lighting, flooring, or wall materials. Since most bathrooms are relatively small spaces, a little extra spending can make a big difference in your overall remodel. 

4. Roof Replacement

Your roof not only protects you and your home from the elements, but adds a lot of curb appeal. Replacing your roof with asphalt shingles yields an average ROI of 58.3% for New Hampshire and 65.8% for New England. 

Project by Cormack Construction.

5. Kitchen Remodel

The kitchen is the heart of the home, so it makes sense that so many homeowners would want to invest in it. But like a bathroom remodel, sometimes spending more doesn’t always translate into getting more ROI. Check out the chart below to see what kind of return you can expect. 

“Before starting any project we try to help clients identify what’s most important to them, and increase their understanding of what kind of ROI they can expect from their investment,” explains Kris Gagnon of Cormack Construction.

Home Remodeling in NH’s Lakes Region, White Mountains, and Western ME

Are you thinking about remodeling your home? Contact us to schedule a free, no-obligation consultation. We’ll help you identify your home improvement wants and needs and create a remodeling strategy that maximizes your budget and return on investment.

*Estimates based on the Manchester, New Hampshire region.