Last week, we started a two-part blog series on the return on investment (ROI) you can expect on various home remodeling projects. Today, we’ll focus on kitchen remodeling and some exterior projects that have good returns. All data comes from the 2020 Remodeling Cost vs. Value Report using Manchester, NH, data.
Unless you’re flipping a home, you probably aren’t undergoing the expense or hassle of kitchen remodeling just to sell it. Even a minor kitchen remodel is a significant investment at nearly $23,000. When you do sell your home, you’ll get an estimated 55% return on the investment. Minor kitchen remodels mean you don’t redesign the kitchen; you simply replace the cabinet fronts and install new countertops, sink and faucet. You’ll upgrade the appliances to energy-efficient ones and install resilient flooring.
If you want to rearrange your kitchen, you’re looking at a major kitchen remodel. The report provided two classifications: midrange and upscale. They both provide a reasonable ROI of about 50%, however, the midrange kitchen remodel will cost around half the upscale remodel’s cost of about $134,000.
Some exterior remodeling projects have a decent ROI. Replacing your roofing is one of the few projects you may want to undergo before selling your home. New asphalt shingle roofing can give you a 58.3% return and metal roofing provides a modest 50% return. Today’s asphalt shingles differ greatly from those even 15 years old. Many come with stain-fighting technology, impact resistance and wind resistances, plus they’re available in many colors and color blends. A new roof adds greatly to curb appeal and is an element that buyers appreciate seeing new.
If you’re planning on staying in your home and want to improve its curb appeal and make it more comfortable, you may want to consider new siding. Older homes rarely have insulation between the siding and the home. Replacing yours not only provides a decent 50% return, but also can reduce your heating and cooling costs.
Remodeling Projects With Limited ROI
Sometimes you have to remodel a room or replace something even when there isn’t great return on the investment. A few projects that aren’t going to pay you back include:
- New garage doors, with a 36% ROI.
- Replacing your entry door with a steel entry door, at 39% ROI.
- New wood windows only return about 42% (vinyl windows give a 54% ROI).
There are other benefits to this sort of upgrade to your home, including increasing the energy efficiency and safety of your home.
Let G.M. Roth Design Remodeling Help
G.M. Roth Design Remodeling is ready to help you with projects big or small. We understand it’s not always about the return on investment, but often about getting greater enjoyment from your home or having the right space for your family. Call us today to discuss your remodeling needs. We can be reached at (603) 880-3761 or by filling out our contact form.