Renovation - Return on Investment Guide

Posted by Amanda Ku on Tuesday, April 2nd, 2019 at 1:33pm

Here is a quick cheat sheet to maximize your return with your renovation investment. Our Renovation Guide. Sometimes we wonder what the cost of re-doing the kitchen or painting the house is worth it. Below, we've outlined some quick estimates for renovation jobs that may help to if it's worth to spend the extra money to fix your home.

 

 

KITCHEN RENOVATION

Best return on investment when considering functionality

(Cabinets, flooring, countertop, appliances, lighting)

 

Average quality

$15,000–30,000

75–95%

 

High quality

$40,000–70,000+

40–60%

 

 PAINT

Least expensive renovation with the biggest bang for your buck

Best return – Home interior

$3,000–5,000

80 –110%

  

ASPHALT ROOF

Best return – Home exterior

Asphalt (25–30 yrs / $3–4/sq. ft)

$4,000–5,000

75–95%

 

 ELECTRICAL SERVICE UPDATE

(60 –100 amps)

Best return – Electrical, mechanical, plumbing

 

FENCE

(pressure treated)

Best return – Landscaping

$1000-$2500 depending on size of yard

 

DOUBLE-DETACHED GARAGE (heated, insulated, slab)

Best return – Garages, sunrooms, additions

New 24’x24’ double detached garage (heated, insulated, slab)

$25,000–35,000

60–80%

 

 

BASEMENT REDEVELOPMENT

(Drywall finish, paint, 3-piece bathroom, 2 bedrooms, family room,

carpet, vinyl, drop ceiling tile)

$35,000–50,000

$30–45 /sq. ft

50 –75%

 

HOT WATER TANK

Mid-efficiency, natural draft (40–50 imperial gallons)

$1,000–1,200

50 –75%

 

High-efficiency, power direct vent (40–50 imperial gallons)

$1,500–2,000

60–80%

 

Tankless on-demand

$8,000–10,000

65–85%

 

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