If your home is in need of an upgrade, it’s helpful to know which home improvements offer the best return on investment (ROI) and can boost your home’s value. Whether you’re listing your home for sale in Austin, TX, or simply want to make wise upgrades to enjoy for years to come, it’s important to ask yourself – “Will this home upgrade really pay off?”
Whatever your reasons for tackling a home improvement project, it’s crucial to compare your choices and learn which projects may have the biggest payoff. It’s important to note that not all home improvement projects are created equal. What a prospective buyer in Charlotte, NC prefers will probably differ from a homebuyer in Indianapolis, IN. And while you may want to convert your garage into a living space, or install an extravagant water feature in your entryway, the ROI may be too low for it to be worth it in the Austin housing market.
There’s no doubt that the housing market is extremely competitive. In fact, in 2021, 1,500 homes in Austin sold for more than $100,000 above asking price. If you want to increase property value and get the best ROI, here are the top 10 home improvements in Austin from the 2021 Cost vs. Value Report, ranked by highest-to-lowest ROI.
Top 10 best ROI home improvements in Austin
1) Manufactured stone veneer
Average cost: $10,207
Average resale value: $9,696
Average cost recouped: 95%
Manufactured stone veneer is incredibly versatile, giving homeowners many style options, including rustic, modern, and more. Not only can it increase curb appeal, it’s also a wise investment. Adding manufactured stone veneer is on the higher end for project costs, averaging $10,207, but provides a high return on investment: You’ll gain back around 95% of the cost, about 4% more than the regional average. This high return makes manufactured stone veneer the best ROI home improvement project in Austin.
2) Garage door replacement
Average cost: $3,916
Average resale value:…