Each year, Remodeling’s leader home remodeling publication, reveals the top home renovations that yield the highest returns. In 2024, three standout projects offer over 100% ROI:

Are you thinking about sprucing up your home this year? Whether you're planning to sell or just want to boost your home’s value, focusing on renovations with high returns can make a huge difference. The latest “Cost vs. Value Report” from Remodeling highlights the top projects for 2024 that offer the best bang for your buck.

1. Garage Door

A good-looking garage door is high up on the list when it comes to a big ROI on your investment, and has nearly doubled in value in 2024 according to Bank Rate.

Average Cost: $4,513*
Average Resale Value: $8,751
ROI: 193.9% 

Who knew that something as simple as a new garage door could almost double your investment? Swapping out your old garage door for a sleek, modern one not only enhances your home’s curb appeal but also boosts its value significantly. Plus, it's a quick upgrade that can be done in a day!

2. Entry door replacement

Your front door is a beacon to catch the eyes of homebuyers. Giving it some love can both enhance your home’s looks and save on energy costs. Your front door is the first thing guests and potential buyers see, so why not make a great first impression? Replacing your front door with a steel one can dramatically improve your home’s appearance and energy efficiency by sealing out drafts. This small change packs a big punch in terms of ROI.

Steel
Average cost: $2,355
Average resale value: $4,430
Cost recouped: 188.1%
Change in cost recouped from 2023: +87.2%

A steel door has jumped this year to a 188 percent ROI, up from 100 percent in 2023. This door has two great benefits, the enhanced curb appeal and energy-efficiency — they tighter fit door-frames, reduces drafts that increase heating and cooling bills. While the sound may be a little off putting to some because of  the bank vault or jail cell, steel doors come in a variety of styles and finishes, and include windows to match.

Fiberglass grand entrance
Average cost: $11,353*
Average resale value: $11,054
Cost recouped: 97.4%
Change in cost recouped from 2023: +47%

Installing a fiberglass grand entrance can crate a grander entrance because it's a little wider and by adding sidelights it can add more appeal to the front entrance.  The installation of a fiberglass is typically a straightforward job for a contractor — it can be completed in one day — and improves the curb appeal of your home significantly. This door offers a return on investment of almost 100 percent in 2024, meaning you’ll get back nearly everything you spend at resale time.

3. Manufactured Stone Veneer
Average Cost: $11,287*
Average Resale Value: $17,291
ROI: 153.2%
Stone veneer adds a touch of elegance and timeless beauty to any home. It’s one of those projects that make your home stand out and can recoup more than 100% of your investment. Imagine the transformation from bland siding to gorgeous stone – it’s a game changer!

If you’re gearing up for some home improvements, these projects are definitely worth considering. They not only increase your home’s value but also enhance its aesthetic and functional appeal. So, why not get started on these high-ROI renovations and enjoy the benefits?

Invest in these projects to ensure you get the best return when it's time to sell or refinance your home!

*BankRate

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