Top 10 Remodeling Projects That Pay Back the Most

Top 10 Remodeling Projects That Pay Back the Most

Remodeling your home isn’t a project to be taken lightly, especially in today’s economy. However, there are small things you can do that will definitely boost your home’s curb appeal and might even help move it off the market a little faster if you are also interested in selling your house. Even if you aren’t moving, you might still be interested in remodeling your home.

It is important to remember that remodeling your home can cost a pretty penny. With the economy in such dire straights, many homeowners are choosing to do only the projects that promise the biggest return on their investment. So, what are the top remodeling projects?

Check out these top ten remodeling projects that will end up paying you back the most. You’ll probably pick up on the fact that none of them are very ambitious or vanity jobs – some are actually perfect for prepping your home before you move out or right as you move in! All of these projects replace worn or aged home components and bring the house up to date. Check them out:

  1. Replace the Front Door – This project isn’t expensive (on average will cost around $1,200) and will improve curb appeal. It will pay you back about 73%.
  2. Replace the Exterior Siding – instead of siding, why not use fiber cement? This will pay you back almost 80% and will cost an average of $13,000. It’s the most cost-effective thing you can do to your house!
  3. Put on a Wood Deck – Costing an average of $10,000, this project will give you a return of 70% or so. Not to mention that if you aren’t moving, you have a great new place to hang out!
  4. Remodel the Attic Bedroom – Isn’t every kid’s dream to move into a home and have an attic bedroom? Well, add a small bathroom with a shower, insulation, windows, and finish the floors, walls and ceiling, and you’ve got a start. You’ll also need to extend the heating and cooling systems, wiring and lighting. Overall, this might cost you around $50,000, but the payback is almost 73%. Have we mentioned this is a great way to deal with the adult kids that are forced to move back home?
  5. Upgrade the Kitchen – Spend almost $20,000 and get a payback of 72%. This includes new laminate countertops, updated sink and faucets, and new appliances. Leave the floor and cabinets alone, but feel free to reface them and add new hardware.
  6. Replace the Garage Door – A new garage door definitely adds curb appeal. It will cost you about $1,500 and the payback is 72%.
  7. Get a High-End Garage Door – A better garage door will pay you back even more – spend $3,000 for a return of 73%.
  8. Replace the Siding with Foam-Backed Vinyl – This siding can help insulate the house and will pay you back about 69%. You’ll end up spending about $14,000.
  9. New Vinyl Siding – You don’t need the foam-backed variety but new vinyl siding can change the whole look of your home. Spend $12,000 and get a return of 70%.
  10. New Vinyl Windows – Want a 69% return? Spend about $14,000 on new vinyl replacement windows and that’s what you’ll get.

Jon Huser