Home Improvements with the Best ROI

If you'd like to renovate your home but don't know where to start, consider the five projects below--each with a phenomenal return on investment (ROI) according to the 2014 Remodeling Cost vs. Value Report. Remember, you don't have to update your home all at once. In fact, tackling a few projects every so often will save you a lot of time and effort when you eventually go to sell your home. It will also keep you from spending a lot of money all at once on renovations expenses.

In order of approximate project cost:

1) Replace your garage door and/or front door. Both of these projects will increase your home's curb appeal, improve insulation, and strengthen security. 

• Cost: $1,162 for a steel entry door and $1,530 for a garage door. 
• ROI: 96.6% (entry door) and 83.7% (garage door). 

2) Add a deck. Deck additions now have the best ROI since 2007. Already have one? Add an outdoor fireplace or grill area to dress it up!

• Cost: $9,540 for a 16x20 foot deck
• ROI: 87.4%

3) Replace your windows. Buy energy-efficient models that will help you save money on heating and cooling bills while earning energy tax credit.

• Cost: For 10 standard windows: $9,980 (vinyl) to $10,900 (insulated wood)
• ROI: 78.7% (vinyl) and 79.3% (wood)

4) Update your kitchen. You don't have to tear down your kitchen in order to improve it. Leave cabinets in tact, but replace doors and drawers. Buy new, energy efficient appliances as well as a new sink. Touch up paint and cracked flooring. Finally, replace your countertop. 

• Cost: $18,856 
• ROI: 82.7%

5) Add a bedroom and bathroom to your attic. This is an expensive addition, and may not make sense in every home (for example, if you already have more bedrooms than most homes in your area). However, if you have an unfinished or  unused attic space and are serious about increasing the value of your home, this is a good option to consider. 

• Cost: $ $49,400 (15x15 bedroom with a 5x7 bathroom with a shower)
• ROI: 84%