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2020 Home Renovation & Window Replacement Costs

2020 Home Renovation & Window Replacement Costs

According to Remodeling Magazine’s 2020 Cost vs. Value report, 9 out of 10 of high-return remodeling projects actually focus on the outside appearance of your home. The kitchen still trends near the top of the list, but curb appeal reigns supreme. Sprucing up the exterior of your property proves to be a substantial moneymaker for getting the highest ROI or return on your investment. 

If you are planning on selling or refinancing your home in the near future, there are certain things you might want to place at the top of your to-do list. Whether you are new to house-flipping or are simply trying to add value to your existing property, knowing what areas of the home to target first will really help you get top dollar for your renovation efforts. 

2020 Home Renovation Costs

Believe it or not, replacing your garage doors typically offers homeowners an almost 100% return on the renovation costs at resale and has held the top spot for the last two years. But 2020 revealed that exterior siding inched slightly ahead of garage door replacement when it came to profitable home renovations. 

In real estate, first impressions are everything. The real estate industry provides a wealth of information about buying trends and what elements account for the most impressive cost to value ratio when it comes to home renovations. And in 2020, it appears that paying added attention to your home’s curb appeal is the best way to get the most money out of your initial investment. 

To put things into perspective, the average American home is around 2,500-3,000 square feet. Depending on the quality of materials you are intending on using, whole home renovations for the average home can hit anywhere between $15,000 to $150,000. That is a pretty huge price gap, so let’s review what home renovations snag the highest return on investment so you can prioritize accordingly. 

10 Home Improvement Projects with High ROI

In no particular order, here are 10 home renovation projects that will help you get the most return on your investment. If you’re on a tight budget, choose the projects with a reasonable average cost and high cost recouped percentage to start and then add on additional projects according to your budget. 

Installing eye-catching siding, a new roof, and vinyl window replacement are excellent places to begin. With any leftover money in your renovation budget, you can replace the garage door and install a new front door to really elevate the exterior of your home and enhance curb appeal. This will put you in the most advantageous position when it comes time to sell your home.

1. Fiber Cement Siding Replacement 

Average cost: $17,008

Average resale value: $13,195

Cost recouped: 78%

2. Vinyl Siding Replacement 

Average cost: $14,359

Average resale value: $10,731

Cost recouped: 75%

3. Vinyl Window Replacement 

Average cost: $17,461

Average resale value: $12,761

Cost recouped: 72%

4. Wood Window Replacement

Average cost: $21,495

Average resale value: $14,804

Cost recouped: 68.9%

5. Minor Kitchen Remodel 

Average cost: $23, 452

Average resale value: $18,206 

Cost recouped: 77.6%

6. Garage Door Replacement 

Average cost: $3,695 

Average resale value: $3,491 

Cost recouped: $94.5% 

7. Asphalt Shingle Roof Replacement 

Average cost: $24,700 

Average resale value: $16,287

Cost recouped: 65.9% 

8. Steel Entry Door Replacement 

Average cost: $1,881

Average resale value: $1,294  

Cost recouped: 68.8% 

9. Fiberglass Entryway 

Average cost: $9,254 

Average resale value: $4,930

Cost recouped: 58.6%

10. Bathroom Remodel

Average cost: $21,377

Average resale value: $13,688 

Cost recouped: 64%

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Window World of Boston has an A+ BBB Rating and offers industry-leading solutions for roof replacement, roofing repair, window installation, and vinyl siding. At Window World of Boston, we are providing safe at-home and virtual consultations to protect our customers. Our experts are available to answer your questions and provide estimates while meeting all CDC guidelines when we install windows, roofing, or siding. Learn more about our products, financing options, and warranty or schedule an appointment by calling 781-262-3925 today.

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Window World of Boston has an A+ BBB Rating and offers industry-leading solutions for replacement windows, doors, siding and more. We follow through every job from start to completion while our friendly, knowledgeable staff is there to answer your questions and provide any level of customer support you need. Window World is committed to providing the highest customer satisfaction.
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