Home Renovations with the Highest ROI

Home renovations can make our abodes more functional and enjoyable to live in. But when it comes to selling or refinancing your home, some projects add more value than others. Before you begin any home improvements, it’s important to know what kind of return on investment you can expect. Here are five of the best home remodeling projects in terms of ROI.

1. New Garage Door

This may surprise you, but upgrading your garage door can have a big impact on your home’s curb appeal. According to Remodeling Magazine’s 2021* Cost Vs. Value Report, a $3,936 investment yields an average return of 93%. So if your door is worn, or has safety, security, or energy-efficiency issues, investing in a new one makes really good sense.

Source: Cormack Construction Project Portfolio

Source: Cormack Construction Project Portfolio

2. Deck Addition 

A deck is a great way to extend your time outside. It’s also a good home remodeling investment. A 16x20-foot deck constructed from composite materials yields an average ROI of 82%. 

3. Bathroom Remodel

Bathroom renovations have always provided homeowners with a solid return on investment. According to the latest CVV Report, you can expect to recoup around 60 to 65%, depending on the scale of your remodel. To get the maximum ROI, stick with a timeless design.

4. Kitchen Remodel

The kitchen is the heart of the home, so any improvements are going to make your space more functional and enjoyable. It’s also a good investment when it comes to selling or refinancing your home. You can expect an average ROI of 51.9% to 59.6%, depending on the size and extent of your renovations.

Source: Cormack Construction Project Portfolio

Source: Cormack Construction Project Portfolio

5. Master Bedroom Suite

Are you outgrowing your home, but don't want to leave your neighborhood? Perhaps it's time to add on a master bedroom suite. It will increase your living space and probably do wonders for your family harmony! Depending on the size and scope of your project, you can expect to recoup between 50.4% and 56.9% of your investment.

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

Cormack Construction offers home remodeling and construction services in New Hampshire’s White Mountains, Lakes Region, and Western Maine. Thinking about remodeling your home? Contact us for a no-obligation consultation.

*Information derived from Remodeling Magazine’s 2021 Cost vs. Value Report for Manchester, New Hampshire. The report compares the average cost of 22 remodeling projects and their retained value at resale.