Philly Home Upgrades with Highest ROI

Philly Home Improvement

Remodeling Projects for Your Philly Home

If you’re thinking about renovating your Philly home before selling, it’s wise to first know what home improvement projects are known to yield the highest ROI, or return on investment. That way, when you go to sell your Philly home, you’ll earn back most of what you spent on upgrades! Not all home upgrades are created equal when it comes to ROI, and the Stephen Sells Philly real estate team is here to fill you in on your best options.

Each year, a new Cost vs. Value Report is released from Remodeling magazine, which shows which home improvement projects are yielding the best ROI vs. the worst ROI. Their report was recently released for 2018! Here is a summary of what they found.

Top ROI projects for ‘midrange’ cost category:

  • Manufactured stone veneer, 97.1% ROI
  • Entry Door Replacement (Steel), 91.3% ROI
  • Deck Addition (Wood), 82.8% ROI
  • Minor Kitchen Remodel, 81.1% ROI
  • Siding Replacement, 76,7% ROI

As you can see, most of these have to do with the exterior and curb appeal of a home. If you own a condo, most of these aren’t relevant to you, but a minor kitchen remodel is always a great way to go!

Here are the top ‘upscale’ upgrades:

  • Garage Door Replacement, 98.3% ROI
  • Window Replacement (vinyl), 74.3% ROI
  • Window Replacement (Wood), 69.5% ROI
  • Grand Entrance, Fiberglass, 67.6% ROI
  • Bathroom Remodel, 56.2% ROI

On the other side of the scale, the five lowest ROI upgrades in the ‘midrange’ cost category are a backyard patio, master suite addition, major kitchen remodel, bathroom addition and deck addition. These all range from 47-63 percent ROI. The lowest upgrades in the ‘upscale’ cost category include a master suite addition, major kitchen remodel, bathroom addition, bathroom remodel and grand entrance (fiberglass), all ranging from 48-67 percent ROI.

As you can see, there isn’t a huge different in the ROI percentages among many of these, but it’s worth noting before you move forward with expensive remodeling efforts! If you want to upgrade your Philly home’s features for increased home value before a sale, do some more research on what yields the best ROI and if the upgrades are worth it. Contact us for information about what buyers are looking for most in Philly right now. If you are upgrading for your own sake, and plan on living in your home for many years to come, make sure you go with upgrades that you want and will enjoy. That’s important, too!

When ready to sell, when ready to buy, or if you have questions about the Philadelphia real estate market, contact our team! The Stephen Sells Philly team is standing by, ready to answer your questions and guide you through whatever real estate process you need assistance with. We love what we do and we’re here to help!

Stephen Ferguson, REALTOR

Stephen@StephenSellsPhilly.com | 267.377.9344 Mobile | 215.558.2429 Office
Follow me on Twitter @SSellsPhilly | www.StephenSellsPhilly.com
Berkshire Hathaway HomeServices, Fox and Roach, REALTORS | 215.546.0550
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