According to a recent article by Jenny Dutton, deputy editor for REALTOR.COM, not all home upgrades will boost your home’s market price. This is especially true for major remodeling projects, which are only expected to make back 56% of the money spent on them, compared to 64% in previous years. These statistics are based on the annual Cost vs. Value report, published by Remodeling magazine for 31 years now.

Due to rising costs caused by labor shortages and building material costs, renovation projects have become very costly. On the upside, some simpler projects offer a larger ROI. Money spent on areas that are noticeable is usually money well spent. The current trend is to upgrade areas rather than building pricey add-ons.

These 8 remodeling projects are currently delivering the highest ROI:

• Painting of the interior can brighten up your home and make it look fresher.
• Unused spaces like basements, attics or patios can be utilized to add on to the square footage of your home. 
• Replacing the garage door is at present top on the list for ROI, according to Remodeling. 
• Curb appeal never loses its importance; make your home more appealing from the outside by tackling the garden and the siding of your home.
• Ensure a grand entrance by replacing an old door with a steel entry door and you will make a 91% return according to the experts.
• Minor kitchen remodeling has a far better return than a complete remodel, so aim at updating a few things such as cabinet doors, handles or fittings rather than a complete renovation.
• Bathroom improvements can include changing lights, a new vanity or shower doors. The cost for addition of a new bathroom can be prohibitive.
• Upgrading of insulation, water heaters and furnaces offer tax incentives in some areas and living cost savings to both current owners and prospective buyers.

Have a project in mind but not sure which way to go? Let’s have a chat; my experience and expertise comes in handy!