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Top 14 Home Updates That Pay Off in 2024

By: Mina Hochberg
Updated on May 07, 2024

Find which home improvements and remodeling projects provide the best return on your investment when it comes time to sell your home.

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Photo: Alain Pinel Realtors, a member of Luxury Portfolio International. From: Alain Pinel Realtors.

How to Invest Wisely in Your Home

We all want to make wise investments, and investing in your home is almost always a smart idea. However, figuring out where to spend the money can be confusing. You want to enjoy your upgrades but also know that you’ll recoup some of your money when you sell your house. Each year Remodeling magazine publishes a Cost vs. Value Report that tracks the ratio of value over cost on various remodeling projects in 150 US markets. We’ve gathered some of their data and added our expert advice to provide you with some insight so you can make wise decisions about where to spend your remodeling dollars.

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Photo: Thomas Story. From: Lauren Nelson.

#1 Garage Door Replacement

Average return at resale: 193.9%

Replacing a garage door may not be the most exciting house update, but it yields some of the highest returns when it comes to resale value. Garage doors, after all, are one of the most prominent parts of a house façade. The average cost of replacing a 16’ x 7’ garage door is $4,513, and the average resale value is $8,751. This is for a steel door with foam insulation rated at a minimum of R-12, along with tracks and insulated glass windows in the top panel.

Garage doors come in a wide array of styles and materials, including steel, fiberglass, wood and composite wood. Steel generally costs less, while wood doors can get expensive. Composite wood can also be pricey, but it’s prized for its low maintenance and durability. Higher insulation drives up the price, but it may be worthwhile if you live in a colder climate.

2024 garage door buying guide

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Photo: © Royalty-Free/Corbis

#2 Entry Door Replacement (Steel)

Average return at resale: 188.1%

The entry door is one of the first things a potential buyer sees when entering your home. The average cost of replacing a front door with a steel door and dual-pane half-glass panel is $2,355, with an average resale value of $4,430. When considering a new front door, it’s tempting to go bold. A bit of personality is helpful, but keep in mind that too bold of a choice can risk alienating potential buyers. Think about what’s tasteful and cohesive with the rest of your home’s exterior.

Steel doors are one of the most budget-friendly options. If you’re willing to splurge, fiberglass doors offer a bit more insulation and a wider selection of styles. Wood doors are among the most expensive options but are favored by many for their quality and natural aesthetic.

59 inviting colors to paint a front door

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Photo: Robert Peterson, Rustic White Photography. From: Tiffany Brooks.

#3 Manufactured Stone Veneer

Average return at resale: 153.2%

Many buyers are drawn to manufactured stone veneer on a home’s exterior. Manufactured stone is a more affordable alternative to natural stone, offering the same curb appeal at a fraction of the price and with easier installation. The average cost of adding 300 square feet of manufactured stone veneer to the bottom third of your façade is $11,287, and you’ll recoup an average $17,291 resale value.

When choosing manufactured stone veneer, consider colors and styles that complement other aspects of your home exterior, such as paint color and architecture. A Craftsman home might look better with a different stone veneer than a contemporary home. Common colors are beige-and-cream or gray-and-blue palettes. When it comes to shape and texture, popular options are irregular shapes with a cobblestone vibe or rectangular shapes with clean edges.

exterior siding buyer's guide

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