If your home needs an upgrade, it’s important to know which home improvements can increase the value of your home so you get the most return on investment (ROI). Whether you’re your . sells at home in Miami, Florida and if you’re moving across the country, or looking for improvements to enjoy for years to come, it’s helpful to ask yourself, “Will this investment be worth it?”

Whatever your reason for taking on a home improvement project, it’s important to compare your options and determine which projects offer the highest return. However, the home improvement projects with the highest ROI vary between housing markets. What a potential home buyer in Nashville, Tennessee wishes probably differ from those of a home buyer in Denver, Colorado. And while you may want to upgrade your kitchen cabinets for a fresh new look, or invest in a major kitchen remodel, the ROI may be too low to be worth it in the Miami market.

If you want to increase the value of your real estate and get the highest ROI, here are the top 10 home improvements in Miami from the Cost vs Value Report 2021, ranked by highest percentage of ROI.

Top 10 Best ROI Home Improvements in Miami

1) Manufactured stone veneer

Average costs: $9.939
Average sales value: $9,641
Average cost recovery: 97%

Crafted stone veneer is incredibly versatile, offering a variety of style options, including rustic, modern, and more. Not only does this upgrade increase its appeal, it’s also a wise investment. It’s on the high side for project costs, averaging $9,939, but offers a high return on investment – you’ll recoup about 97% of the cost, about 4% more than the regional average. This high efficiency makes a manufactured stone veneer the most valuable home improvement in Miami.

2) Garage door replacement

Average costs: $3,866
Average sales value: $3,480
Average cost recovery: 90%

Replacing a garage door not only offers homeowners more protection and security, but also improves its appeal and reduces maintenance. And in Miami, you may be able to recoup about 90% of the cost of installing a garage door when it comes time to sell your home. With an average cost of $3,866 and a trade-in value of $3,480, it falls just 2.5% below the regional average. This is a great home improvement that can help increase home value with a limited budget.

3) Replacement of steel entry door

Average costs: $2,022
Average sales value: $1,625
Average cost recovery: 80%

Your front door is one of the most important parts of your home. Adding a new steel door increases the security and appearance of your home, and practically pays for itself. Replacing your front door makes it the top three home improvements in Miami with an average cost of $2,022. It has a resale value of $1,625 and you can recoup 80% of the cost.

4) Replace asphalt shingles roofing

Average costs: $25,182
Average sales value: $20,199
Average cost recovery: 80%

Most people tend to forget the roof over their heads until it’s too late. A general rule of thumb is to replace your roofing material every 15-20 years. And one of the most common roof types, asphalt shingles, is affordable, lightweight and durable. In Miami, FL, replacing your roof with asphalt shingles typically costs about $25,182 and provides an 80% return on investment, 20% higher than the regional average.

A house along the Miami River with new asphalt shingles

5) Vinyl Window Replacement

Average costs: $24,301
Average sales value: $15,440
Average cost recovery: 80%

Typically cheaper than wood windows, vinyl window replacements offer great energy efficiency and a better appearance, all while being easy to maintain. With an average cost of $19,356 in Miami, you’ll see an 80% return on your investment at an average trade-in value of $15,440.

6) Small kitchen renovation

Average costs: $24,301
Average sales value: $18,488
Average cost recovery: 76%

A minor kitchen remodel ranks 6th for highest ROI home improvements in Miami. Whether it’s refurbishing cabinets, adding a new back wall or upgrading the lighting, a small kitchen remodel will not only make the space more pleasant and add functionality, it can also increase the value of your home. In Miami, FL, the average cost to update parts of your kitchen is $24,301. With an ROI of 76%, a small kitchen renovation is 6% higher than the average cost recovery for the region.

7) Wooden window replacement

Average costs: $23,088
Average sales value: $17,511
Average cost recovery: 76%

Wooden windows can be a great design element for your exterior. While the look is typically more classic in nature, there are countless designs and styles, so you’re sure to find the ideal look for your home. They are also extremely durable, environmentally friendly and one of the most cost-effective improvements you can make. In Miami, Florida, replacing your windows typically costs about $23,088 and yields a 76% return on investment, 13% higher than the regional average.

8) Vinyl siding replacement:

Average costs: $24,301
Average sales value: $11,463
Average cost recovery: 75%

Vinyl siding is inexpensive, easy to maintain, and quick to install. It protects you and your home from the elements, but also provides a fresh look. With an average cost of $15,375 in Miami, FL, you’ll see a 76% yield and an average resale value of $17,511 for this home improvement.

Vinyl siding replacement is a top home improvement in Miami

9) Fiber cement siding replacement:

Average costs: $18,203
Average sales value: $13.091
Average cost recovery: 72%

Fiber cement siding withstands almost all weather conditions, resists fire, is aesthetically pleasing, versatile and affordable. In Miami, the average cost for this home improvement is $18,203 with an average resale value of $13,091, meaning about 72% of the cost will pay for itself.

10) Metal Roofing Replacement

Average costs: $41,577
Average sales value: $29,838
Average cost recovery: 72%

Metal roofs can be an attractive option to replace roofing materials due to their minimal maintenance, energy efficiency and longevity – they last as much as 40-70 years before needing to be replaced. Metal roofing costs an average of $41,577 in Miami, FL. You will likely see a 72% return on your investment at an average trade-in value of $29,838.

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