If you want to get the biggest return on your investment in home renovation projects, it would be wise to take your to-do list outdoors. The 2020 Cost vs. Value report by Remodeling magazine found that nine out of the top 10 high-return projects are exterior replacement projects. Only the minor kitchen renovation rivals the rate of return of most exterior projects.
Whether you are just thinking about remodeling or ready to dive in, prioritize these exterior projects that will add curb appeal and value when it’s time to sell or refinance.
1. Manufactured stone veneer
Average cost: $9,357
Average resale value: $8,943
Cost recouped: 96%
2. Garage door replacement
Average cost: $3,695
Average resale value: $3,491
Cost recouped: 94%
3. Siding replacement (fiber cement)
Average cost: $17,008
Average resale value: $13,195
Cost recouped: 78%
4. Siding replacement (vinyl)
Average cost: $14,359
Average resale value: $10,731
Cost recouped: 75%
5. Window replacement (vinyl)
Average cost: $17,461
Average resale value: $12,761
Cost recouped: 72%
6. Deck addition (wood)
Average cost: $14,360
Average resale value: $10,355
Cost recouped: 72%
7. Window replacement (wood)
Average cost: $21,495
Average resale value: $14,804
Cost recouped: 69%
8. Entry door replacement (steel)
Average cost: $1,881
Average resale value: $1,294
Cost recouped: 69%
9. Deck addition (composite)
Average cost: $19,856
Average resale value: $13,257
Cost recouped: 67%
10. Roofing replacement (asphalt shingles)
Average cost: $24,700
Average resale value: $16,287
Cost recouped: 66%
Read Full Article [Source: www.forbes.com]
