Getting ready to sell and wondering which home improvements will give you the greatest return? Remodeling’s annual Cost vs. Value Report is a great resource for estimates on both the cost and return of common remodeling projects. Doors top the list in our Minneapolis market again this year… both entry doors and upscale garage doors.

In fact an upscale garage door replacement yielded a 112.6% return! The second highest return was for a new steel front entry door, with a return of 93%. These both have to do with curb appeal… before potential buyers even enter your house!

They set the tone for what buyers look for after they enter. When they see a well cared for exterior they will expect that to follow through on the interior and will be more likely to notice the good about your home rather than look for negatives.

The five projects with the 2018 highest return on investment in Minneapolis are: (1) upscale garage door replacement, (2) steel entry door replacement, (3) manufactured stone veneer, (4) wood deck addition, and (5) minor kitchen remodel.

Although return went up in our market this year for both garage and front doors, return dropped for all other projects on their list of 21 top projects. Even though not as good as last year, windows and siding also showed a good return, as well as universal bathroom design as more people think about design for both aging in place and accommodating people of varying physical abilities. Average return on investment for all 21 projects this year was 68.9%, so be careful not to over-improve specifically for resale.

Below is a ranking by return on investment for 21 remodeling projects based on data from the Remodeling 2018 Cost vs. Value Report. This list reflects data from the Minneapolis-St. Paul area. See their full report for more details and data for other parts of the country. Average return for all projects on the list was 68.9% Minneapolis-St. Paul, only slightly higher 69.4% nationwide.

MINNEAPOLIS-ST. PAUL Remodeling ROI – Cost vs Value 2018

  1. Upscale garage door replacement – $3,591 – 112.6%
  2. Entry door replacement (steel) – $1,602 – 93.0%
  3. Manufactured stone veneer – $8,791 – 91.0%
  4. Deck addition (wood) – $12,735 – 79.9%
  5. Minor kitchen remodel – $24,351 – 72.7%
  6. Siding replacement – $17,940 – 70.3%
  7. Upscale window replacement (vinyl) – $17,398 – 70.3%
  8. Upscale grand entrance (fiberglass) – $9,060 – 65.5%
  9. Deck addition (composite) – $20,049 – 59.7%
  10. Upscale window replacement (wood) – 59.4%
  11. Universal design bathroom – $20,282 – 56.4%
  12. Bathroom remodel – $22,723 – 54.3%
  13. Major kitchen remodel – $71,404 – 54.1%
  14. Upscale bathroom addition – $95,443 – 50.0%
  15. Roofing replacement – $27,096 – 48.9%
  16. Upscale major bathroom remodel – $137,924 – 47.6%
  17. Bathroom addition – $53,167 – 47.3%
  18. Master suite addition – $142,555 – 44.6%
  19. Upscale bathroom remodel – $69,178 – 43.9%
  20. Upscale master suite addition – $283,651 – 40.1%
  21. Backyard patio – $63,032 – 39.3%

This report is for the Minneapolis-St. Paul metropolitan area. See the complete 2018 Remodeling Cost vs Value Report for the whole country, regionally, or by major city… with records going back to 2002.

Sharlene Hensrud, RE/MAX Results –  Twin Cities Seller’s Realtor

The HomesMSP Team – SharleneJohnAngela


About Sharlene Hensrud

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

Related Posts

Concerned about Minneapolis-St. Paul airplane noise around a home you might buy?

As I strolled along Minnehaha Creek in South Minneapolis with my birthday buddy while we ate our handmade ice cream cones last weekend, she was very aware of all the airplanes flying overhead. This was a new neighborhood for her and she commented that she wouldn’t like living there because of all the airplanes flying.

Read More

Crystal Lake… a charming neighborhood lake in an affordable community

Minnesota's nickname is "The Land of 10,000 Lakes",  and many of them are found throughout the Twin Cities metro area. It is hard to find a community that doesn't have a lake, pond, river or creek nearby… and hard to find a Minnesotan who doesn't have some sort of connection to a lake 'Up North'..

Read More

The Three Most Important Things in Marketing Your Home

First, let me say that preparing your home for sale is different from marketing or promoting it, although the two go hand-in-hand. Don't skimp on preparing your home for sale, about 81% of buyers want a home they can just move into. That's a huge percentage and you want your home to fall into that category.

Read More

Leave a Reply

Be the First to Comment!

Notify of