In the recently released 2018 Cost vs. Value report, issued by
Remodeling magazine, which quantifies the return on investment (ROI) of home remodeling projects. In the Greater Boston report, it showed that locally, we fared slightly better the national averages for ROI on midrange and upscale projects.
Both nationally and locally, the top project for ROI was an upscale garage door replacement, having a 104.5 percent and 98.3 percent ROI, respectively. Other upscale projects reaping high ROI were fiberglass grand entrances, and both vinyl and wood window replacements. Among midrange projects, steel entry door replacements, minor kitchen remodels, and manufactured stone veneer projects saw high ROIs for home remodelers locally and nationwide.
For a full list of Boston, New England and national trends as well as midrange and upscale project descriptions, view the full
2018 Cost vs. Value Report here.
Additionally, a new analysis forecasts a 7.5 percent increase in home remodeling and repair spending from 2017 to 2018, to an estimated total of $340 billion. This estimate was completed by the
Remodeling Futures Program at the Joint Center for Housing Studies at Harvard University, who credited growth in home prices as a main factor to why homeowners are investing in remodeling their homes.