10 Home improvements that will get you the best ROI in Madison
As housing prices continue to increase, now is the perfect time to invest in home improvements. Now, more than ever, a little bit of renovation will go a long way in seeing a return on your investment. Many clients are surprised to hear that not every home improvement yields a high ROI. Styles and trends change so quickly. It wasn’t that long ago that paisley floral wallpaper was the hot-ticket item in design magazines (cough * ‘90s* cough).
If your bottom line is to increase the value of your home and see an ROI in the next 2-10 years… here’s a list of improvements that will make that happen in our nuanced, Madison market.
- Manufactured Stone Veneer
Average cost of Manufactured Stone Veneer in Wisconsin: $9,357
Average Resale Value of Manufactured Stone Veneer in Wisconsin: $8,943
Cost Recouped: 95%
There are a few reasons why this makes #1 on the list. Stone veneer comes in a wide range of styles and colors so that you can match the stone to your home’s style (or your personal style!). It’s durable, yet lightweight which cuts down on installation costs. There’s no heavy lifting required! It’s also an environmentally friendly option. Since it’s manufactured, veneer cuts down on excavating natural stone resources.
- New Garage Doors
Average Cost of New Garage Doors & Mechanics in Wisconsin: $3,695
Average Resale Value of New Garage Doors & Mechanics in Wisconsin: $3,491
Cost Recouped: 94.5%
New Garage Doors. It’s going down. (Get it?). New garage doors can enhance the appearance of the exterior of your home. Contemporary garage doors and carriage-house garage doors are especially attractive. But even more so than the aesthetics, updated mechanics can be a real pro for potential buyers.
- Siding Replacement | Fiber- Cement
Average Cost of Siding Replacement in Wisconsin: $17,635
Average Resale Value of Siding Replacement in Wisconsin: $13,195
Cost Recouped: 94.5%
Fiber cement is durable and long-lasting. Buyers love the fact that it’s low maintenance. It’s engineered to withstand moisture and rot. And as a bonus- termites and woodpeckers hate the taste!
- Window Replacement | Vinyl
Average Cost of a Vinyl Window Replacement in Wisconsin: $17,641
Average Resale Value of a Vinyl Window Replacement in Wisconsin: $12,761
Cost Recouped: 70.1%
Window replacements can be a huge project. Vinyl windows are the most affordable option for window replacement. They’re strong, durable, and look good in any architectural style.
- Minor (not major!) Kitchen Remodel
Average Cost of a Minor Kitchen Remodel in Wisconsin: $23,452
Average Resale Value of a Minor Kitchen Remodel in Wisconsin: $18,206
Cost Recouped: 69.9%
This can include installing new flooring and countertops. Consider giving your cabinets a fresh paint job. If the wood details of your cabinets are a bit outdated (some of those old styles from the ’80s have tacky carvings into them), you can just reface the cabinets. Just replace the doors (faces of your cabinetry) for a new look.
- Siding Replacement | Vinyl
Average Cost of a Vinyl Siding Replacement in Wisconsin: $14,359
Average Resale Value of a Vinyl Siding Replacement in Wisconsin: $10,731
Cost Recouped: 74.7%
Vinyl siding is durable, versatile, and can save you money on heating and cooling. The siding is very well insulated and helps hold your temperature in.
- Window Replacement | Wood
Average Cost of a Wood Window Replacement in Wisconsin: $21,459
Average Cost of a Wood Window Replacement in Wisconsin: $14,804
Cost Recouped: 68.9%
Wood is naturally aesthetically pleasing. It has a nice warm finish and is easy to maintain (just slap on a new coat of stain!). It’s a great natural insulator too!
- Deck Addition | Wood
Average Cost of Wood Deck Addition in Wisconsin: $14,360
Average Resale Value of a Wood Deck Addition in Wisconsin: $10,355
Cost Recouped: 72.1%
Who doesn’t want more outdoor living spaces?! Wood decks are a cheap and easy way to give your curb appeal a facelift. There are even plenty of DIY videos available if you want to save on labor costs.
- Entry Door Replacement | Steel
Average Cost of a Composite Deck Addition in Wisconsin: $1,881
Average Resale Value of a Composite Deck Addition in Wisconsin: $1,294
Cost Recouped: 68.8%
Steel entry doors provide extra security and peace of mind. It’s a very inexpensive way to increase the value of your home… and help you sleep at night. As a bonus- they help block out noise too! Which is great if you live on a busy street.
- Bath Remodel | Midrange
Average Cost of a Bathroom Remodel in Wisconsin: $21,377
Average Resale Value of a Bathroom Remodel in Wisconsin: $13,688
Cost Recouped: 64%
Hello, water pressure! Features of a midrange bathroom remodel include updated showerheads, storage adding a bathtub, updating countertops, and investing in new tile.
Other High-Value Renovation Projects:
- Roofing Replacement | Asphalt Shingles
69.9% Cost Recouped
- Bath Remodel | Universal Design
62% Cost Recouped
- Roofing Replacement | Metal
61.2% Cost Recouped
- Bath Remodel | Upscale
56.6% Cost Recouped
- Major Kitchen Remodel
58.6% Cost Recouped
- Master Suite Addition | Midrange
58.5% Cost Recouped
- Bathroom Addition | Upscale
54.7% Cost Recouped
- Major Kitchen Remodel | Upscale
53.9% Cost Recouped
- Grand Entrance | Fiberglass
53.3% Cost Recouped
- Bathroom Addition | Midrange
54% Cost Recouped
- Master Suite Addition | Upscale
51.6% Cost Recouped