Cost vs Value 2022… home improvements return on investment

Thinking about doing some home improvements but wondering if you will get your money back when you sell? Don’t expect to get it all back. According to the 2022 Remodeling Cost vs Value report, remodeling costs recouped an average of 59.1% of their value when Twin Cities homes were sold. But perhaps the biggest return is your enjoyment from living in a home you love!

The three projects yielding the highest return all impact curb appeal: stone veneer, garage door and entry door. Entry and garage doors almost always yield high returns and stone veneer has been topping the list lately, perhaps partly because the cost of these three improvements aren’t as high as other projects but can have a big impact. If buyers don’t like what they see from the street they may never even come inside!  Windows and kitchens not surprisingly round out the top 5… buyers really notice windows, and an updated kitchen can sell a home.

MINNEAPOLIS-ST. PAUL Remodeling ROI – Cost vs Value 2022

The list of 22 projects below gives the average cost and percent return for each project in Minneapolis-St. Paul, and is ordered from highest to lowest return on investment.

1. Manufactured stone veneer – $11,268 – 92.1%
2. Garage door replacement – $3,990 – 89.0%
3. Entry door replacement (steel) – $2,172 – 70.1%
4. Window replacement (vinyl) – $20,108 – 68.6%
5. Minor kitchen remodel (midrange) – $27,948 – 67.2%
6. Window replacement (wood) – $23,915 – 67.0%
7. Siding replacement ( fiber-cement) – $22,415 – 65.7%
8. Grand entrance (fiberglass) – $10,377 – 62.0%
9. Deck addition (composite) – $24,576 – 59.7%
10. Deck addition (wood) – $19,863 – 59.2%
11. Siding replacement (vinyl) – $18,917 – 57.6%
12. Bath remodel (midrange) – $27,402 – 53.1%
13. Major kitchen remodel (midrange) – $79,886 – 51.6%
14. Roofing replacement (metal) – $59,979 – 51.4%
15. Bathroom remodel (upscale) – $82,294 – 50.6%
16. Major kitchen remodel (upscale) – $155,963 – 50.6%
17. Bath remodel (universal design) – $42,038 – 50.4%
18. Master suite addition (midrange) – $176,709 – 49.0%
19. Bathroom addition (midrange) – $65,037 – 47.7%
20. Roofing replacement (asphalt shingles) – $38,041 – 47.3%
21. Bathroom addition (upscale) – $115,003 – 46.1%
22. Master suite addition (upscale) – $357,703 – 43.5%

Complete data from the Remodeling Cost vs Value Report for 2022 and other years can be downloaded free at www.costvsvalue.com. Reports are available nationally, regionally and by city.