Are you looking to increase the value of your home in Salt Lake? The annual Cost vs. Value report by Zonda Media can help guide your remodeling decisions. This report details the estimated cost of various home remodeling projects and the value they add to your home. In this blog post, we will detail the top 10 highest return-on-investment (ROI) projects you can do to your home that add the most value.
The Top 10 Highest ROI Home Remodeling Projects
#1 Garage Door Replacement
- Job Cost: $4,682
- Resale Value: $6,740
- ROI: 143.9%
One of the most underrated home improvement projects is garage door replacement. A new garage door can completely transform the look of your home’s exterior and provide a significant return on investment. In Salt Lake County, a garage door replacement has an average ROI of 143.9%.
This project involves removing your old garage door and replacing it with a new one made of steel, wood, or aluminum. Not only does it enhance your home’s curb appeal, but it can also improve your home’s security and energy efficiency.
When choosing a new garage door, consider the style, material, and color that will best complement your home’s architecture and design. It’s also important to ensure the garage door is properly insulated to help regulate the temperature and reduce energy costs.
#2 Siding Replacement | Fiber-Cement
- Job Cost: $18,229
- Resale Value: $21,473
- ROI: 117.8%
Another great home remodeling project that can provide a high ROI in Salt Lake is replacing the old, worn-out siding with fiber cement siding. According to the data, this project can provide an average ROI of 117.8%.
Fiber cement siding is a popular choice for homeowners in Salt Lake because it’s durable, low maintenance, and can withstand extreme weather conditions. It’s also resistant to fire, insects, and rot, making it a great investment for homeowners who want to protect their homes from damage.
Replacing old siding with fiber cement can also give your home a fresh, modern look and increase curb appeal. This can be a major selling point if you want to sell your home.
When considering a fiber cement siding replacement project, hiring a reputable contractor with experience working with this type of siding is important. They can help you choose the right color and style for your home and ensure the installation is done correctly.
#3 Siding Replacement | Vinyl
- Job Cost: $16,337
- Resale Value: $17,064
- Cost Recouped / ROI: 104.5%
Replacing 1,250 square feet of your current siding with vinyl siding allows you to get a massive 104.5% ROI. Not only does it protect the exterior of your home but it also improves curb appeal.
This addition is known for being low maintenance, eco-friendly, energy-efficient, beautiful, and durable. This includes factory trim at all corners and openings that allow each section to flow smoothly. Vinyl siding is guaranteed to last for a long time.
#4 Manufactured Stone Veneer
- Job Cost: $11,289
- Resale Value: $11,319
- ROI: 100.3%
If you’re looking to increase your home’s value, one of the best places to start is with its curb appeal. The exterior of your home is the first thing potential buyers see, and a well-designed exterior can greatly increase your home’s perceived value. Adding manufactured stone veneer is one of the most effective ways to enhance your home’s exterior.
Adding manufactured stone veneer to your home’s exterior can provide a whopping 100.3% ROI. This project involves installing manufactured stone veneers over existing siding or brick to give your home a new look. This project has such a high ROI because it can completely transform the look of your home, adding curb appeal and increasing its perceived value.
Manufactured stone veneer is made from a blend of cement and other materials, giving it the look and feel of natural stone. It’s available in various styles and colors, so you can find a look that complements your home’s architecture. Manufactured stone veneer is incredibly durable and requires little maintenance, making it a smart long-term investment for your home.
In addition to its impressive ROI, adding manufactured stone veneer can improve your home’s energy efficiency in addition to its impressive ROI. The extra layer of insulation provided by the stone veneer can help keep your home cooler in the summer and warmer in the winter, reducing your energy bills and improving your home’s comfort.
#5 HVAC Conversion | Electrification
- Job Cost: $18,045
- Resale Value: $17,702
- Cost Recouped / ROI: 98.1%
An electric HVAC system highlights some of the vital advantages of home remodeling. It can enhance safety, give a better quality of air in your home, reduce the risk of fire, is more cost-efficient, more affordable, readily available, and lasts longer compared to gas-powered equipment.
This project consists of converting to an electric heat pump for cooling and heating a 2,000-square-foot property. It includes patching up drywalls, removing grilles, recycling metal ductwork, touching up walls and ceiling paints, and installing new breakers, a new inverter-type heat pump, five indoor wall units, and five line sets. However strenuous of a task it may sound, it is all worth it especially when you are getting a 98.1% return on your investment.
#6 Entry Door Replacement | Steel
- Job Cost: $3,780
- Resale Value: $3,646
- ROI: 96.5%
The entry door is the first thing people see when they come to your home. It can significantly impact your home’s curb appeal and the overall impression it makes on potential buyers. Replacing your entry door can give your home a fresh look and improve energy efficiency, making it an excellent investment.
In Salt Lake, replacing your entry door can provide an ROI of 96.5%. This project involves removing your old door and installing a new one. There are many options, including steel, fiberglass, and wood. Steel doors are durable, low-maintenance, and affordable. Fiberglass doors are energy-efficient, weather-resistant, and can mimic the look of wood. Wood doors provide a classic, high-end look but require more maintenance.
Upgrading your entry door can also improve your home’s security. Newer doors are often equipped with better locks and stronger materials, making it more difficult for intruders to enter your home. Additionally, modern doors often have better insulation, which can help reduce energy costs and keep your home comfortable year-round.
#7 Window Replacement | Vinyl
- Job Cost: $20,301
- Resale Value: $16,597
- ROI: 81.8%
Replacing your old windows with new vinyl ones can provide an ROI of 81.8% in Salt Lake County. Windows play a significant role in a home’s energy efficiency, and upgrading them can improve your home’s appearance, security, and energy efficiency. In addition, new windows can increase your home’s resale value, making it a great investment.
Vinyl windows are an excellent option for homeowners in Salt Lake because they are durable and low-maintenance. They do not require painting and are resistant to moisture, making them ideal for the area’s harsh climate. Moreover, vinyl windows come in various styles, including single-hung, double-hung, casement, and sliding, so you can choose the one that best suits your home’s architecture and style.
In terms of cost, the average cost of vinyl window replacement in Salt Lake County is around $20,301 for ten windows, according to Remodeling Magazine’s Cost vs. Value Report. However, the actual cost may vary depending on the size and style of your windows, as well as the complexity of the installation. It is essential to hire a professional window installer to ensure that the job is done correctly and to prevent any future problems.
#8 Minor Kitchen Remodel
- Job Cost: $27,331
- Resale Value: $22,123
- ROI: 80.9%
If you’re looking for a way to upgrade your kitchen without breaking the bank, a minor kitchen remodel might be the way to go. This type of remodel involves making small changes to your kitchen, such as updating the countertops, replacing the sink and faucet, and adding new cabinet hardware.
In Salt Lake County, a minor kitchen remodel can provide a 80.9% ROI. This makes it a great option for homeowners who want to improve the look and functionality of their kitchen without spending too much money.
Some of the things you can do during a minor kitchen remodel include:
- Replacing outdated countertops with newer, more durable materials like quartz or granite.
- Upgrading your sink and faucet to a more modern design.
- Refinishing or repainting your cabinets to give them a fresh, new look.
- Adding new cabinet hardware to improve functionality and aesthetics.
- Replacing old appliances with newer, more energy-efficient models.
By making these changes, you can give your kitchen a new lease on life, increase your home’s value, and make it more attractive to potential buyers if you decide to sell.
#9 Window Replacement | Wood
- Job Cost: $24,817
- Resale Value: $18,488
- ROI: 74.5%
Similar to vinyl windows, replacing your old windows with new vinyl ones can provide an ROI of 74.5% in Salt Lake County. Wood windows are beautiful, elegant, and, when properly cared for, last a long time. They do require painting or staining and can be sensitive to moisture.
Replace 10 existing 3×5-foot doublehung windows with insulated, low-E, simulated-divided-light wood windows. Interior finish of stained hardwood; exterior finish of custom-color aluminum cladding. Trim exterior to match existing; do not disturb existing interior trim.
#10 Roof Replacement
- Job Cost: $31,022
- Resale Value: $18,198
- ROI: 66.9%
Your roof is one of the most important parts of your home. It protects your family and belongings from the elements and plays a significant role in your home’s curb appeal. A new roof can significantly improve your home’s look and feel while providing a high return on investment.
According to the Remodeling 2021 Cost vs. Value report, a mid-range roof replacement project in Salt Lake County has an average cost of $31,022 and can recoup an average of 66.9% cost upon resale. This means homeowners who invest in a new roof can expect to recoup more than their initial investment upon selling their home.
A new roof can also help lower energy bills and increase your home’s energy efficiency. In addition, a new roof can provide peace of mind knowing that your home is protected from potential water damage and leaks.
When choosing a new roof, consider the materials and styles that best suit your home’s architecture and taste. Popular roofing materials include asphalt shingles, metal roofing, and tile roofing. Each material has its benefits and drawbacks, so be sure to research and consult a professional before making a final decision.
Tips and Tricks for Maximizing Value
Each of the projects above can add value to your home, but to maximize their ROI, here are some tips and tricks to keep in mind:
- Research different materials and suppliers to ensure you get the best value for your money.
- Consider doing some of the work yourself to save on labor costs.
- Don’t over-improve your home for the neighborhood. If you invest too much money in your home, you may not see a return on investment if your home’s value exceeds your area’s average.
- Get multiple quotes from contractors and compare prices and services to find the best deal.
- Focus on practical projects and add functionality to your home rather than just aesthetics.
- Consider energy-efficient upgrades, which add value to your home and save you money on utilities in the long run.
- Don’t cut corners or sacrifice quality for cost savings, as this can decrease your home’s value.
- Keep in mind the timeline for selling your home. If you plan on selling soon, focus on projects with a high ROI that can be completed quickly.
Remodeling your home can be a great investment, but it’s important to do your research and choose the right projects that will add the most value. Zonda Media’s Cost vs. Value report is a great resource for identifying these projects, and the 10 projects highlighted in this article are a great place to start. Following the tips and tricks outlined above can maximize your ROI and enjoy a more functional and valuable home.