#1 New Roof
You flip on the TV to see that your fave home reno-ing duo is it at again, flipping a ranch that’s stuck in the ‘80s.
They make it to the living room, pull back the dingy carpet to reveal hardwood floors in great condition. They’re psyched — and for good reason.
Hardwood floors are a timeless classic. Refinishing is a no-brainer. Neither will you regret adding new hardwood floors if you have none.
The cost to refinish: $2,500
The return: 100% at $2,500
The cost to buy new: $5,500
The return: 91% at $5,000
#3 New Garage Door
The cost: $2,300 (for a two-door)
The return: 87% at $2,000
There are options galore, too. A host of factory-finish colors, wood-look embossed steel, and glass window insets are just some of the possibilities that’ll give your doors bankable personality.
#4 Better Insulation
Insulation is tucked out of sight, so it’s often out of mind — that is, until you’re forced to wear your parka indoors because it’s sooo darn cold.
The cost: $2,100
The return: 76% at $1,600 (plus the added savings on heating and cooling costs!)
#5 New Siding
In any color! And never paint again.
Those are two of the three benefits of vinyl siding. The third, of course, is your home’s value.
But if long-time homeowners look at you funny when you mention vinyl siding, just tell them that today’s vinyl is way better than what they remember because of fade-resistant finishes and transferable lifetime warranties.
The cost: $13,350
The return: 75% at $10,000
Want fiber-cement siding instead? It also shows a strong payback of 83%. Although it’s the pricier option — you’ll spend about $18,000 with a payback of about $15,000 — it has one thing vinyl still lacks — the perception of quality.
And quality matters. In a survey from the National Association of Home Builders (NAHB), “quality” was the one of the most important traits that home buyers focused on when house hunting.
- Costs and ROI of the Most Common Home Remodeling Projects (including kitchens and baths)
- Time-Sucking Home Remodeling Mistakes You'll Wish You Could Avoid