People remodel their homes for a variety of reasons. Your remodeling project might increase the functionality, safety, or comfort of your home; improve its aesthetic; or provide additional needed space. Regardless of the purpose behind your remodeling project, it’s good to know what kind of return on investment (ROI) you can expect, should you decide to sell your home. Here are seven home remodeling projects with the highest return on investment in New Hampshire according to the 2022 Cost versus Value Report.
1. Garage Door
Believe it or not, a new garage door has an estimated 92.1% return on investment for New Hampshire homeowners. Why is the ROI so high? A new garage door refreshes your home, adding visual appeal to your property. An older garage door can make your home look worn or out of date. A new garage door system also offers the advancements of modern security features—desirable to potential home buyers.
2. Manufactured Stone Veneer
Made from concrete, manufactured stone veneer is designed to imitate the shape, color, and texture of natural stone. Replacing the exterior siding on the lower portion of your home with manufactured stone veneer adds the rich look of natural stone at a fraction of the cost. You can expect a return of 87%.
3. Deck Addition (Composite)
New Hampshire homeowners love spending time outside, so it’s not surprising that a new deck brings an average ROI of 81.1%. However, it’s important to note that when it comes to decks and ROI, materials matter. A wood deck addition brings in a much lower return on investment—just 42.7%.
4. Replacement Roof
Your roof provides protection from the elements and plays a significant role in your home’s overall curb appeal. It can also make your home more desirable to potential buyers. You can expect an average return of 66% from a new asphalt shingle roof.
DID YOU KNOW? According to a recent National Association of Realtors® (NAR) study, a new roof can make you happier, too! 75% of homeowners feel a major sense of accomplishment when they think of their project; 65% have a greater desire to be home since getting a new roof; and 49% have an increased sense of enjoyment when at home.
5. Grand Entrance
It makes sense that your home’s entrance can have a big impact on your curb appeal. Of course, it’s important that your new door fits well with the style of your home. You can expect an ROI of 64.9% with a fiberglass entrance door with dual sidelights.
6. Mid-range Bath Remodel
A bathroom remodel continues to hold its own when it comes to ROI. A midrange bath remodel ($24,720 investment) brings an average return of 63.6%. It’s important to note that your ROI isn’t proportional to what you spend. A universal design, with an estimated cost of $40,204 has a return of 58.5%. An upscale design, which will cost you an average of $79,020, brings in an even lower return of 50.6%.
PRO TIP: Get a look of luxury in your bathroom remodel by investing in custom cabinetry and splurging on higher-end lighting, flooring, and wall materials. Since a bathroom is a relatively small space, a little extra splurging can go a long way.
7. Minor Kitchen Remodel
The kitchen is the heart of the home and will always be one of the best areas to spend your money. A minor kitchen remodel ($26,962 job cost) has an ROI of 58.3%. Like bathroom remodels, your project spend doesn’t always align with your return on investment. Major-midrange ($79,614 job cost) and major-upscale ($154,922 job cost) kitchen remodels bring in an average ROI of 50.6% and 53.3%, respectively.