Best Home Renovations with the Biggest ROI

Thinking about giving your place a little upgrade? With home prices climbing, a lot of folks are choosing to stay put and make their current space work better for them. Whether you’re doing renovations for yourself or thinking about selling down the road, it’s worth knowing which projects will have the highest home renovation ROI that actually add value. The right improvements can make your home more enjoyable now and more appealing to buyers later. But it’s easy to go overboard, so picking the best ROI home renovations is key to getting the most bang for your buck.

Garage Door Replacement

Swapping out your old garage door is a quick way to improve curb appeal and home security. A fresh, modern door instantly boosts your home’s appearance and can even help with energy efficiency. Look for insulated models to cut down on heating and cooling costs, and consider smart features like Wi-Fi controls to make life easier. Keep it clean and well-maintained; just a little routine TLC, like lubrication and sensor checks, will keep it running smoothly for years. When it comes to high-ROI home renovations, this one offers great value with minimal effort.

Manufactured Stone Veneer

Want your home to scream “wow” before anyone steps inside? Adding stone veneer to your exterior does just that. It’s an easy way to get that upscale look without draining your wallet. Focus on key spots like the entryway or lower walls. Stick with classic, neutral tones to keep it timeless. And don’t skip on proper installation. Make sure there’s a moisture barrier to save you from headaches down the line. For those looking at do-it-yourself home renovations, stone veneer panels can be a rewarding weekend project.

Hardwood Floor Refinishing

Scuffed-up floors making your home feel dull? Refinishing hardwood is a simple way to breathe new life into your home. It instantly brightens up a space and makes it feel more polished. Stick with classic finishes that match a variety of styles and use high-quality sealants to protect against future wear and tear. Pro tip: Add area rugs in high-traffic spots to keep those floors looking fresh longer. If you’re considering the highest ROI home renovations, this one is always a solid choice.

Entry Door Replacement

A steel front door isn’t just about looks; it can make your home feel safer while also cutting down on drafts. Choose one with reinforced locks and insulation. Don’t be afraid to go bold with the color; a vibrant door can make a great first impression. A stylish entryway is one of the best ROI home renovations that adds both style and function.

Insulation Upgrades

If your home feels like a sauna in the summer and an icebox in the winter, it’s probably time to boost your insulation. Upgrading your attic or walls can help cut energy bills and keep things cozy year-round. Spray foam or fiberglass batts are solid choices for efficiency. And while you’re at it, sealing any sneaky air leaks around windows and doors can make a world of difference. When thinking about home renovation ROI, better insulation is a no-brainer for long-term savings.

Minor Kitchen Remodel

No need to go full HGTV—small kitchen upgrades can do wonders. Think new countertops, updated cabinet doors, and swapping out old appliances for energy-efficient ones. Neutral colors and simple designs keep it appealing for future buyers, and LED lighting adds a modern touch. Just steer clear of overly trendy choices that might not age well. If you’re looking for high ROI home renovations, a minor kitchen refresh is a great place to start.

Basement Conversion

Turning your basement into a livable space is like adding a whole new floor without the hassle of building an addition. Whether it’s a home office, gym, or chill zone, it adds major value. Keep it comfortable with proper insulation and moisture control. Bright lighting and light paint colors can keep it from feeling like, well, a basement. And go for durable flooring that can handle a little wear and tear. Among the best ROI home renovations, basement upgrades offer valuable extra space for growing families.

Vinyl Siding Replacement

New siding can make your home look brand new while also protecting it from the elements. Vinyl siding is a great option because it’s low maintenance and comes in tons of colors to fit your style. If energy efficiency is a priority, go for insulated siding to help with heating and cooling costs. Regular cleaning with a gentle brush helps extend its life. This is one of the highest ROI home renovations for long-term curb appeal.

How to Measure the ROI of Home Renovations

Measuring the return on investment (ROI) for a home renovation doesn’t have to be complicated. A simple way to estimate ROI is by comparing the money you spent on the project to how much it adds to your home’s value. A basic formula you can use is:

ROI = (Increased Home Value – Renovation Cost) ÷ Renovation Cost x 100

For example, if you spend $10,000 on a project and it increases your home’s value by $15,000, your ROI is 50%. Keep in mind that actual ROI depends on factors like market conditions, the quality of work, and your home’s location. If you’re planning to sell soon, focus on projects that buyers find appealing, such as upgrading kitchen fixtures or updating your home’s exterior. These types of high ROI home renovations tend to offer the most financial benefits.

For a more accurate assessment, consider getting an “as-completed” appraisal from a professional to better understand your home renovation ROI. And if you prefer do-it-yourself home renovations, remember to track your expenses and keep things practical to maximize returns.

Planning a home renovation and wondering which upgrades offer the best value? A REMAX agent can help you choose the right improvements to boost your home’s market appeal.