We have been planning a kitchen remodel and wanted to know how much we could recoup on our investment. So we did some digging and came up with the 5 best home improvement projects for the money, according to Remodeling News.*

National Averages:

Project	Cost	Value	Recoup%
Garage Door Replacement	$3,611	$3,520	97.5%
Manufactured Stone Veneer	$8,907	$8,449	94.9%
Minor Kitchen Remodel	$22,507	$18,123	80.5%
Deck Addition (Wood)	$13,333	$10,083	75.6%
Siding Replacement	$16,036	$12,119	75.6%

We were surprised to see garage door replacement is at the top. This may be due to the low investment, which makes it a popular project. But it is also a critical aspect of curb appeal for resale. You should note that a “minor” kitchen remodel is up to $30,000 in cost. But it does return 80.5% of the investment on average. If you step up to a “major” kitchen remodel – somewhere in the $60,000 range – the return is only 62.1%. So, keeping an eye on the bottom line is an important aspect of every project.

Pacific Regional Averages:

(Includes Hawaii and Alaska, which might skew the average costs.)

Project	Cost	Value	Recoup%
Garage Door Replacement	$3,785	$4,685	123.8%
Manufactured Stone Veneer	$9,507	$10,499	110.4%
Deck Addition (Wood)	$16,511	$14,491	87.8%
Minor Kitchen Remodel	$24,950	$21,723	87.1%
Grand Entrance (Fiberglass)	$9,568	$8,147	85.1%

In the Pacific region, a minor kitchen remodel returns almost 87.1% of your investment. Let’s take a look at our local area:

Portland Metro Area:

Project	Cost	Value	Recoup%
Garage Door Replacement	$3,626	$3,548	97.9%
Entry Door Replacement	$1,851	$1,737	93.8%
Minor Kitchen Remodel	$22,958	$20,290	88.4%
Siding Replacement	$16,794	$14,424	85.9%
Manufactured Stone Veneer	$8,809	$7,311	83.0%

In this area, kitchens still do pretty well in terms of return for investment. Plus, as the centerpiece of the home, it adds great appeal to prospective buyers. In all areas, a Master Suite addition – with a National average cost of $271,470 – was the lowest return, ranging from 50.4% to 56.7%  So, that’s a project you’d want to consider very carefully, or plan to stay in your house a while! Contact Us if you’d like more information about which home improvement projects are the best for the money.

*© 2019 Hanley Wood, LLC. Complete data from the Remodeling 2019 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.