Cost vs Value 2019… home improvements return on investment

It’s winter… that time of year when thoughts often turn to home improvements. Whether or not you plan to sell your home in the near future, it’s nice to know what projects bring the most return on your investment. But more importantly, remember that the biggest return is your enjoyment from living in a home you love!

Below is a ranking by return on investment for 22 remodeling projects based on data from the Remodeling 2019 Cost vs. Value Report. This list reflects data from the Minneapolis-St. Paul area.

Average cost for the 22 projects went up an average 11.6% over last year, while average return dropped a modest 4.4%. Average return for all projects on the list was 64.1% in Minneapolis-St. Paul, slightly below the nationwide average of 68.5%.

MINNEAPOLIS-ST. PAUL Remodeling ROI – Cost vs Value 2019

1. Garage door replacement – $3,802 – 99.6%
2. Manufactured stone veneer – $10,012 – 82.3%
3. Entry door replacement (steel) – $1,977 – 76.5%
4. Minor kitchen remodel (midrange) – $25,064 – 74.3%
5. Deck addition (wood) – $15,206 – 73.6%
6. Grand entrance (fiberglass) – $9,723 – 73.5%
7. Window replacement (vinyl) – $18,427 – 73.3%
8. Window replacement (wood) – $22,001 – 72.9%
9. Siding replacement – $18,994 – 69.0%
10. Deck addition (composite) – $21,723 – 65.2%
11. Bath remodel (midrange) – $23,713 – 60.6%
12. Master suite addition (midrange) – $149,801 – 58.8%
13. Bathroom remodel (upscale) – $72,978 – 57.7%
14. Major kitchen remodel (upscale) – $143,527 – 57.6%
15. Major kitchen remodel (midrange) – $72,659 – 56.7%
16. Bath remodel (universal design) – $38,546 – 54.2%
17. Bathroom addition (midrange) – $55361 – 51.9%
18. Roofing replacement (asphalt shingles) – $30,834 – 51.7%
19. Bathroom addition (upscale) – $99,900 – 50.7%
20. Master suite addition (upscale) – $307,443 – 50.0%
21. Backyard patio – $64,565 – 49.9%
22. Roofing replacement – $48,945 – 49.8%

This report is for the Minneapolis-St. Paul metropolitan area. See the complete 2019 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 – shensrud@homesmsp.com