Will this renovation pay off? That’s the question on the mind of any homeowner considering making an investment in their home. Fortunately, there are a number of high return home renovations that will boost a home’s value making your investment worthwhile. According to the 2014 Remodeling Cost vs. Value report released in January some of the high return home renovations are those done to the exterior of the home —siding, window, and door replacements—because they immediately improve a home’s curb appeal. 
This report, produced annually by Remodeling and REALTOR® Magazines, compares the average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. Here in New England, five of the top 10 most cost-effective projects, in terms of value recouped, are exterior projects.
Exterior Door Replacement
Let’s look more closely at an exterior door replacement. A home’s exterior door can contribute significantly to air leaks and cost a homeowner in higher heating and cooling costs. It is therefore no surprise that a steel entry door replacement year after year has the biggest return on investment according to the Cost vs. Value Report. While it is the least expensive project in this report, at a cost of $1,100 on average, an estimated 109% percent of costs are recouped upon resale.
Fiberglass door replacement, a more expensive alternative, still generates a reasonable return on your investment at 73%. Where some people might choose wood doors for their aesthetic appearance, insulated steel and fiberglass doors are much more energy-efficient and are both wise choices when investing in your home. Looking to See What Your Pay Off Could Be? Adding rooms, such as an attic bedroom or master suite, also tend to do well when it comes time to sell. Two-story additions and finished basements also offer a high return on your investment.
High Return Home Renovations in Summary
Here are the top cost-effective improvements from this year’s report:
| Project | 2014 New England ROI | 2014 National ROI |
| Replace Your Front Door | 109% (steel)73% (fiberglass) | 97% (steel)71% (fiberglass) |
| Add a Deck or Patio | 101% | 87% |
| Replace Your Siding | 93% | 78% (replace vinyl siding)87% (replace siding with a fiber-cement mix) |
| Attic Bedroom | 87% | 84% |
| Remodel Your Kitchen | 87% (minor remodel)74% (major remodel) | 82% (minor remodel)74% (major remodel) |
| Replace Your Windows | 87% | 79% |
| Replace Your Garage Door | 85% | 83% |
| Master Suite Addition | 76% | 68% |
| Two-Story Addition | 76% | 72% |
| Update your Bathroom | 74% | 73% |
| Basement Remodel | 70% | 78% |
While the return on your investment is one factor to consider as you embark on your next home improvement, there are many others. It may be that you love your house and your neighborhood and plan to live in it for a long while. We at Raven Homes recognize that this is a big decision. That’s why when we meet, we will ask you the right questions, have you describe your ideas, what you want to accomplish and we can consult with you on how you can get the most out of your investment. As you begin to plan for your next home improvement or renovation project, give Raven Homes a call at 508-393-4511 to schedule a free consult.