What are the home improvement projects with the highest ROI?

Remodeling magazine has put out a 2018 report for remodeling cost vs. home value change for the Denver market. The average return on investment (ROI) has been variable when compared to previous years in Denver.

The report measures the average cost of 21 popular remodeling projects and their average resale value one year later.

For example, upscale garage door replacements had the highest ROI in Denver, at 103.7%, with the average job costing $3,484 and resale value of $3,611.
To counter, midrange backyard patio additions had a relatively low ROI of 54.6%, with the job cost averaging $53,434 and resale value of $29,189.

Minor remodeling projects requiring limited work, such as replacing a garage door, yielded higher profitability in comparison to those that required significant work, such as patio additions and kitchen remodels. Not only are these minor remodeling projects more cost-effective, but they are also easier to complete in a timely manner due to the current demand for resources in Denver. There is currently a housing shortage in Denver, that is making difficult in the current market to find a new property, so many homeowners are opting to improve their current home. This has created a significant demand for remodeling options in Denver that many lenders are offering remodeling specific loans to help homeowners undertake this task.

The top five projects for ROI for midrange project costs are:

Manufactured stone veneer 95.7% ROI
Average Cost: $8,123
Average Value: $7,772

Minor kitchen remodel 88.9% ROI
Average Cost: $21,193
Average Value: $18,383

Deck addition (wood) 86.4% ROI
Average Cost: $11,086
Average Value: $9,582

Bathroom remodel 72.6% ROI
Average Cost: $19,113
Average Value: $13,874

Universal design bathroom 70.5% ROI
Average Cost: $16,018
Average Value: $11,289

The top five projects for ROI for upscale project costs are:

Garage door replacement 103.7% ROI
Average Cost: $3,484
Average Value: $ 3,611

Window replacement (vinyl) 68.1% ROI
Average Cost: $15,903
Average Value: $10,827

Window replacement (wood) 63.6%
Average Cost: $19,322
Average Value: $12,297

Grand entrance (fiberglass) 62.3%
Average Cost: $8,648
Average Value: $5,389

Bathroom remodel 61.4%
Average Cost: $61,703
Average Value: $37,909

The full report can be found at Remodeling magazine.