ROI?

What’s the least expensive home improvement you can make to return the most value? 

Nope, it's not a kitchen or bath remodel. In fact, those projects can be enormously expensive and disruptive — plus, homeowners usually only get 50% back on their costs when they resell. Skipping remodels before selling may seem counter-intuitive, but it’s well documented in financial sources such as  The Motley Fool, and The Street, that major remodels just don’t pay back.

Surprisingly, your best return on investment is replacing your garage door.

According to Cost Versus Value Data specifically tailored to the Minneapolis and St. Paul metro area, a new garage door returns over 95% of its cost when you sell your home. What’s even better? Compared to a kitchen or bath remodel, which can cost anywhere from $60,000 to $100,000 or more, the average price of a new garage door in the Twin Cities is just $3,900.

What’s another affordable project with a solid return? Replacing your front door — this upgrade can return roughly 67% of its cost, averaging a total of about $2,000 (materials and labor). 

 So, take note: If you're considering improvements because you're planning on selling, please know that they rarely increase a home's value enough to be worthwhile. However, if you're making improvements because you and your family will enjoy them, and you plan to stay in your home for several years, then it’s great to think ahead about how they'll affect the sale of your home.