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The Top 8 Most Profitable Outdoor Renovations of 2016

Do you ever feel like your home’s exterior needs some help? Well, to be honest- your neighbors probably do as well. I’m sure you have planned on eventually doing some renovations and upgrades, but the time just never seemed right. Well, newsflash: the time is NOW!

You are missing out on CRUCIAL home equity opportunities! Outdoor renovations have HUGE returns for homeowners. So where should you start? With the help of remodeling.net, I’ve put together a list of the top 8 outdoor renovations with the highest return!

8) Landscaping:

Lawn

Whether you are spending $20 or $20,000 dollars on your yard, you can be you will always see a great return on investment. The better your home looks on the outside, the more buyers you are going to attract. The more potential buyer competition- the higher your home sells for! So make sure to keep your grass green and those shrubs trimmed, more than just your neighbors will appreciate the effort.

Image via pixabay.com

7) Roof Replacement:

roof

It is easy to forget about your roof. It’s the part of your home you probably have the least contact with every single day. It’s just kind of up there. A roof is actually crucial to the upkeep of your home, without a good roof- your home’s shelter starts to fall apart. Replacing an old roof is necessary to prevent costly damage. An average roof replacement costs about $20,142 and has a return of about $14,446. That is a 72% return on something that your home can’t go without. Looks like you’re out of excuses for putting it off, let’s “raise the roof”!

Photo via pixabay.com

6) Window Replacement:

window

This renovation is all about keeping the outside…. outside. Can you hear every noise your neighbors make? It’s probably a sign you have outdated windows that need to be replaced (or really bad neighbors). New windows are more energy efficient and are great for blocking out unwanted neighborhood noise. You will sleep easier without all the extra noise and the added bonus of lower heating and cooling costs!

There are two options for window replacement with two very different returns!

Replacement Wood Windows: Average cost is $18,087 with a return of $13,050 (72%)
Replacement Vinyl Windows: Average cost is $14,725 with a return of $10,794 (73%)

Photo via unsplash.com

5) Deck Addition:

deck

Next on our list is the everyone’s backyard favorite, the back deck! Adding a deck onto your home is a great way to add extra living space more cost-effectively than adding an extra enclosed room! The addition of a wood deck has an average cost of $10,471 and a return of $7,850 or 75%. Not to mention, think of the summer parties and barbecues you can host! Fire up the grill, it’s time to install your very own deck.

Composite Deck option: Average cost of renovation is $16,798 with a return of $10,819 or 64%.

Photo via pixabay.com

4) Siding Replacement:

Home Siding

Does the outside of your home look like it needs some serious TLC? It might be time to think about replacing the vinyl siding. I know what you are thinking, it is going to be a long week of workers constantly hammering on the outside of your house. I’m sorry to have to tell you that that is exactly what it’s going to be. The good news? Once it’s finished your house will look like it was built yesterday. With an average cost of $14,100 and a return of $10,857 or 77%, you would have to have been born yesterday to skip out on this renovation!

Photo via Pixabay.com

3) Entry Door Replacement:

door

Last year’s most profitable renovation comes in at #4 this year! This quick renovation can be done in an afternoon and has an average cost of about $1,300. If you are looking for a quick and easy update to your home, why not start with the front door?

Photo via unsplash.com

2) Garage Door Replacement:

garagedoor

Does your garage door need a lot more than a new coat of paint? No worries, you are not alone. Why worry about replacing the garage doors when you could buy that new grill you wanted, right? WRONG. Replacing your garage door has a MASSIVE return of 92%. The installation is quick and has an average cost of $1,652, which means you get a return of about $1,512! It might be time to start paying attention to that forgotten garage door of yours.

Photo via unsplash.com

1) Manufactured Stone Veneer:

stonehouse

What is the NUMBER ONE MOST PROFITABLE OUTDOOR RENOVATION?

Adding manufactured stone veneer to your home! How many times have you driven by a house and noticed its beautiful stone accents? If you are anything like me, probably more often than you would like to admit. If you were on the fence about adding some stone to your home’s exterior, here’s your reason why you should. The renovation comes with a killer 93% return on investment. It will cost you on average about $7,519 depending on the stone you pick, but of that investment, you will get a return of about $6,988.

Photo via pixabay.com

Time to start renovating!

Photo via pixabay.com

One thought on “The Top 8 Most Profitable Outdoor Renovations of 2016

  1. Shad Morris

    There was a few things that I wanted to do this year, and was curious about what renovations we could do. I had no idea that adding a deck can actually increase the value of your house. I have always thought that it would be nice to have a deck for the summers.

    Reply

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