Given today’s chaotic global economics, we thought it a good time to research the home improvement efforts almost certain to give you the biggest bang for your hard-earned bucks.

To do this we researched a number of industry insiders – banking, real estate, construction, interior design, home improvement suppliers, remodeling influencers, and industry trade publications – to determine the home renovation, remodeling, and improvement efforts that are almost certain to deliver the strongest ROI.

It’s important to remember that ROI means how much you’ll likely get back for every dollar spent. So if you spend $18,800 on a major HVAC conversion from gas to electric, for example, our industry survey shows the value added to your home will be $12,422 for an ROI of 66.1%. (A few industry types, including Home Depot, suggest the ROI is more like 103%, but the consensus is lower.)

Our big ROI winner, on the other hand, shows a standard cost of $4,513 resulting in a whopping 194% ROI ($8,751).

Remember, too, that ROI is strictly a financial planning instrument. It doesn’t take into account less tangible but no less important issues including your quality of life.

A homeowner who doesn’t plan to sell anytime soon may balk at an investment in garage doors when the ones she has are perfectly fine albeit outdated. On the other hand, a big HVAC upgrade could lead to much more comfortable temperatures in the home and dramatically reduced utility bills.

Conversely, the homeowner eager to sell is going to want to focus on curb appeal. You’ll see what we mean below.

Top 8 ROIs for Home Improvement

#1. Garage Doors / 194%. Yep, this one surprised us too. Updated, modern, and ultra-quiet garage doors deliver instant curb appeal.

#2. Front Door Replacement (Steel) / 188%. Again, as with the garage doors, an upgraded, modern, secure steel door delivers instant curb appeal not to mention a good first impression as one enters the home.

#3. Stone Veneer / 153%. Noticing a trend here? By wrapping your front door and porch (if you have one) in a manufactured stone veneer, you create an aesthetically pleasing first impression and the sense of a rock-solid (pun intended) home.

#4. Front Door Upgrade (Fiberglass) / 97%. Instead of simply swapping out the front door with a steel counterpart, here we’re reframing it with sidelights and a broader doorway. And yes, we still haven’t set foot inside the house.

#5. Kitchen (Modest) / 96%. At last, we’re inside the home! Here we’re talking about refacing the existing cabinets, replacing laminate countertops as well as the range and refrigerator with newer more efficient appliances, and installing a newer sink and faucet. Paint and complete.

#6. Siding / 88%. Well, we’re back outside again. By replacing existing siding with manufactured fiber-cement siding, the entire home gets an aesthetically pleasing makeover.

#7. Bath (Modest)/ 74%. Replace existing tub with a porcelain-on-steel version, replace all fixtures, add new standard toilet, install vanity with integrated sink, ceramic flooring.

#8. Deck Addition (Wood)/ 68%. Add standard 16 x 20-foot deck with concrete footers, pressure-treated boards and joists, railing and stairs (composite makes the list much farther down simply due to its higher material costs).

Other Home Improvement Considerations

From this point the improvements are mostly higher-level takes on the kitchen and bath remodels along with new roofs (steel vs tile) and upgrades to HVACs and primary suites.

It’s worth noting here that supply-chain challenges and a global trade war will likely influence some of the aforementioned upgrades, not just in terms of material costs but also cultural changes.

For instance, the addition (or conversion) to home offices were fairly popular during the COVID / remote work days, but with more and more folks returning to the office that’s died down.

Additionally, an aging Boomer population has more than a few homeowners considering main-level bedrooms or master suites. And more difficult economic times almost always lead to an uptick in exterior living upgrades (e.g., decks converted to screened porches, stone patio and fire pit / grill additions, etc.) as people refrain from eating out.

What did we learn from this exercise? Well, like dating, when it comes to ROI that first impression (the home exterior) packs a wallop.