Tax Season is upon us and for a majority of Americans, that means that you will be receiving a refund check from Uncle Sam. But where to spend that windfall? Statistics show that most Americans tend to utilize those funds for either Home Improvements or a Vacation. If you fall into the Home Improvement category, the following list, according to National Publications, shows where you would notice a recognizable return on investment. Whether you are planning on selling or staying put, it matters where you invest you money.
Fiberglass Attic Insulation. While not the most glamorous way to spend your money, by increasing your attic insulation to a R-30 Value, you would not only see a significant reduction in your energy bill, but potentially reap a whopping 107% Return on Investment ( ROI ). This improvement is the only one where you could recoup more than what was spent!
Steel Entry Door Replacement. Curb appeal wins here, along with safety and increased energy efficiency. This improvement stands to net you approximately 91% ROI while replacing with a Fiberglass Entry Door, your ROI is approximately 78%.
Stone Veneer. Again, curb appeal. ROI is approximately 89%.
Upscale Garage Door. Again, curb appeal along with safety and energy efficiency are the leading reasons for this improvement, netting you a possible 85% ROI. If you choose to replace with a Mid-Range Door, your ROI would be close to 77%.
Minor Kitchen Remodel. Think new appliances, new countertop and backsplash. Estimated ROI is 80%.
Siding. Curb appeal seems to be the driving factor for most ROI, and completing this project could recoup approximately 76%.
Vinyl Replacement Windows. Again, curb appeal, safety and energy efficiency are the driving factor here with a projected ROI of 74%.
Conversely, the following are the Top 5 Worst ROI: 1. Bathroom Addition @ 56.2%, 2. Upscale Bathroom Addition @ 56.7%, 3. Upscale Owners Suite @ 57.2%, 4. Upscale Bathroom Remodel @ 57.55% and rounding out the top 5 is Deck Addition @ 57.5%. That being said, they still are projected to recoup over 50% of ROI!