Cost vs. Value: 2020 Home Improvement Projects With the Highest ROI

    Curb appeal really does have a major impact on the return you’ll see at resale. Among the top 10 home improvement projects with the highest return on investment (ROI) in Remodeling magazine’s newly-released Cost vs. Value Report, nine are outdoor projects.

    Topping this year’s list is Manufactured Stone Veneer, a project that has consistently ranked toward the top of the list since the project was added to the report in 2015.

    Unsurprisingly, the report shows an increase in cost for all 22 projects listed; however, there is also a consistent dip across the board in terms of what the perceived value of each of these projects is. This is likely due to a market that was anything but smooth in 2019.

    “Why the difference? The most likely answer is consumer jitters,” says Clay DeKorne, chief editor of the JLC Group, which includes Remodeling magazine. “While remodeling professionals need to stay on point, they can breathe easy. Remodeling activity is growing at a slower rate than in years past, but it continues to grow.”

    Nationally, here are the 10 projects with the greatest ROI, according to the 2020 Cost vs. Value Report:

    Manufactured Stone Veneer (95.6% ROI)

    • Average Cost: $9,357
    • Average Resale Value: $8,943

    Garage Door Replacement (94.5% ROI)

    • Average Cost: $3,695
    • Average Resale Value: $3,491

    Minor Kitchen Remodel (Midrange) (77.6% ROI)

    • Average Cost: $23,452
    • Average Resale Value: $18,206

    Siding Replacement (Fiber-Cement) (77.6% ROI)

    • Average Cost: $17,008
    • Average Resale Value: $13,195

    Siding Replacement (Vinyl) (74.7% ROI)

    • Average Cost: $14,359
    • Average Resale Value: $10,731

    Window Replacement (Vinyl) (72.3% ROI)

    • Average Cost: $17,641
    • Average Resale Value: $12,761

    Deck Addition (Wood) (72.1% ROI)

    • Average Cost: $14,360
    • Average Resale Value: $10,355

    Window Replacement (Wood) (68.9% ROI)

    • Average Cost: $21,495
    • Average Resale Value: $14,804

    Entry Door Replacement (Steel) (68.8% ROI)

    • Average Cost: $1,881
    • Average Resale Value: $1,294

    Deck Addition (Composite) (66.8% ROI)

    • Average Cost: $19,856
    • Average Resale Value: $13,257

    Nationally—and on the other end of the spectrum—here are the 10 projects with the lowest ROI:

    Master Suite Addition (Upscale) (51.6% ROI)

    • Average Cost: $282,062
    • Average Resale Value: $145,486

    Grand Entrance (Fiberglass) (53.3% ROI)

    • Average Cost: $9,254
    • Average Resale Value: $4,930

    Major Kitchen Remodel (Upscale) (53.9% ROI)

    • Average Cost: $135,547
    • Average Resale Value: $72,993

    Bathroom Addition (Midrange) (54% ROI)

    • Average Cost: $49,598
    • Average Resale Value: $26,807

    Bathroom Addition (Upscale) (54.7% ROI)

    • Average Cost: $91,287
    • Average Resale Value: $49,961

    Bath Remodel (Upscale) (56.6% ROI)

    • Average Cost: $67,106
    • Average Resale Value: $37,995

    Master Suite Addition (Midrange) (58.5% ROI)

    • Average Cost: $136,739
    • Average Resale Value: $80,029

    Major Kitchen Remodel (Midrange) (58.6% ROI)

    • Average Cost: $68,490
    • Average Resale Value: $40,127

    Roofing Replacement (Metal) (61.2% ROI)

    • Average Cost: $40,318
    • Average Resale Value: $24,682

    Bathroom Remodel (Universal Design) (62% ROI)

    • Average Cost: $34,643
    • Average Resale Value: $21,463

    The 2020 Cost vs. Value Report compared the average costs for 22 popular remodeling projects and how much of that value they retained in 101 different U.S. housing markets. View the full report, including project descriptions and city-level data, here.

    Report by Jameson Doris

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