Five Home Improvement Projects with the Best ROI

When making home improvement with the possibility of selling in mind, homeowners want to get the most bang for their buck. In real estate terminology, this is often called a return on investment, or ROI. Essentially, this factors the average cost of home improvements while taking into account the average increase in resell price during the selling transaction. Here are five of the best home projects that typically offer homeowners a solid return on their investment.

1. Attic Insulation Additions

Fiberglass insulation tends to dissipate over the years, and many homeowners never notice until utility bills surge or they gain access the attic to reclaim goods. Adding fresh fiberglass insulation is one of the most affordable updates and typically provides an incredible ROI of up to 107.7 percent. With an average cost of $1343 for installation according to the same source, this is a wise purchase can also reduce energy costs right away, so even those not planning to sell may want to look into new insulation.

2. Steel Entry Door Replacement

With an average cost of $1413 and a 90.7 percent ROI, replacing old entry doors with new steel entry doors is a budget friendly update. Remember, the average cost here also factors in designer decorative doors. To save money, basic steel doors can begin in the $500 range and can typically be self-installed for greater savings. Furthermore, steel doors tend to be harder to penetrate, so homeowners are adding an extra measure of protection for their families, too. This improvement may also qualify certain owners with opportunities for home insurance policy deductions.

3. Manufactured Stone Veneer Siding

Most types of siding installations can be costly. However, manufactured stone veneer siding offers a solid ROI and is an affordable option to beautify the home's exterior. The cost of materials and installation will vary greatly depending on the size of the home and how much of the exterior a homeowner wants to adorn. One can choose to do one or two full or complementary walls, add stone veneer to the fireplace chimney or just choose a few key spaces of interest. Average estimates for this project are $7851 with an ROI of 89.4 percent, so this can be a good way to add curb appeal for personal enjoyment and selling purposes in the future.

4. Garage Door Replacement

Garage doors play an essential role in protecting valuables such as tools, automobiles and connected home entry way doors. Malfunctioning garage doors can also cause quite a bit of damage when they unexpectedly fail, and they can also limit access to your vehicle. Not only are old or damaged garage doors unsightly and inconvenient for homeowners, they certainly don't look appealing to potential buyers. Pricing will vary depending on the number doors, the type installed and whether or not upgrades such as smart opening tech or biometrics are included. On average, owners spend $3304 and see an ROI of 85 percent and many come with lifetime warranties that can be transferred to new owners.

5. Decking Updates and New Installations

Decking additions are widely popular with homeowners and those in the market to buy. Again, cost will vary depending on the side of the addition or new installation and whether one opts for traditional wood or modern composite decking. This is a more costly investment either way, with composite reportedly averaging just over $17,000 and wood around $10,000, with ROI estimates averaging 65.2 and 71.5 percent respectively.

Homeowners seeking additional information concerning smart home projects for homes in Jupiter Hills or elsewhere with a solid return on investment should consider seeking the advice of a professional real estate agent.