Every year, Remodeling Magazine, in partnership with RemodelMax and The Farnsworth Group, releases the Cost Vs. Value Report highlighting home improvements with the highest return on investment. The assessment includes the job cost, resale values, and cost recouped – all of which are determined by a national survey and calculated using RemodelMax’s popular estimating software. The results vary by region and year-to-year.
Results for Wilmington, NC, are included in the South-Atlantic Region. They can be further narrowed to Charlotte or Raleigh, NC. Raleigh is closer, so we’ve chosen to share its results.
Here are the 10 home improvement projects (sorted by Raleigh) that will bring you the highest return on investment according to the 2016 Cost Vs. Value Report:
1. Attic Insulation
National Average Cost: $1,268
Return on Investment: 116.9%
Raleigh Average Cost: $1,223
Return on Investment: 97.5%
2. Entry Door
National Average Cost: $1,335 (Steel)
Return on Investment: 91.1%
Raleigh Average Cost: $1,286
Return on Investment: 85.9%
National Average Cost: $3,126 (Fiberglass)
Return on Investment: 82.3%
Raleigh Average Cost: $3,060
Return on Investment: 74.3%
3. Garage Door Replacement
National Average Cost: $1,652 (Midrange)
Return on Investment: 91.5%
Raleigh Average Cost: $1,546
Return on Investment: 84.1%
National Average Cost: $3,140 (Upscale)
Return on Investment: 90.1%
Raleigh Average Cost: $3,080
Return on Investment: 83.4%
4. Manufactured Stone Veneer
National Average Cost: $7,519
Return on Investment: 92.9%
Raleigh Average Cost: $7,512
Return on Investment: 79.8%
5. Deck Addition
National Average Cost: $10,471 (Wood)
Return on Investment: 75.0%
Raleigh Average Cost: $9,267
Return on Investment: 79.6%
National Average Cost: $16,798 (Composite)
Return on Investment: 64.4%
Raleigh Average Cost: $15,698
Return on Investment: 61.4%
6. Grand Entrance (Upscale Fiberglass)
National Average Cost: $7,971
Return on Investment: 69.6%
Raleigh Average Cost: $7,784
Return on Investment: 74.7%
7. Minor Kitchen Remodel
National Average Cost: $20,122
Return on Investment: 83.1%
Raleigh Average Cost: $18,599
Return on Investment: 73.6%
8. Vinyl Siding
National Average Cost: $14,100 (Midrange Vinyl)
Return on Investment: 77.0%
Raleigh Average Cost: $13,088
Return on Investment: 72.2%
9. Basement Remodel
National Average Cost: $68,490
Return on Investment: 70.4%
Raleigh Average Cost: $61,046
Return on Investment: 70.0%
10. Backup Generator
National Average Cost: $12,712
Return on Investment: 59.4%
Raleigh Average Cost: $12,012
Return on Investment: 66.2%
Download all of the stats for Raleigh here. See how the numbers have changed over the years here.
We always recommend that homeowners keep in mind that some home improvements and materials will have a higher ROI than others depending on the neighborhood. Homeowners should look at other homes in the neighborhood before making any decisions or they risk over-improving their home and pricing it outside of fair market value. We also suggest getting a quote from multiple contractors. Projects in the Wilmington area may cost more or less than other areas of the country depending on availability of materials and the standard rate for labor. If you’d like a few names of people to contact, send us a message through our Contact page or call us at (910) 202-2546!
