What Jacksonville home improvement projects will add ROI in 2024? Thinking about staying in your home a bit longer or proactively renovating your home for a sale? Wondering what will return you the most for your investment? Let’s look at national, regional and finally local (Jacksonville, FL) trends.
About The Data:
The Remodeling publication released their 37th annual 2024 Cost vs. Value report earlier this year. They offered that exterior improvements continue to yield the highest return on investment (ROI).
National Trends on Home Improvement Projects
Nationally: Garage door replacements (194%), Steel door replacements (188%), Manufactured Stone Veneer (153%), Grand Entrance Upscale (97%) and Minor Kitchen remodels (96%) top the 2024 national results.
Regional & Jacksonville Home Improvement Project Trends:
For the Southeast Region and Jacksonville, Florida as well – the list reflects a bit of a shift with Steel door replacements atop the list (198.9%), Garage door replacement (189.5%), Manufactured Stone Veneer (150.2%), Grand Entrance (96.6%) and Siding Replacement (94.0%).
Research the Projects and Understand the Projections
It is important to do research on any project. A common misconception is that kitchens and bathrooms are where the value is at in renovating homes. While this is one source of data – the information is compelling enough to point to the fact that other projects may better serve your investment. Further, kitchens and bathrooms certainly can be fun but note that a mid-range bath remodel in Jacksonville nets a 63.4% while a major kitchen remodel nets a 40.4% ROI.
What Jacksonville home improvement projects will add ROI in 2024?
If you are considering home improvement projects with the intent of adding value – I encourage you to do some research. Additionally, talk to local professionals (general contractors and real estate agents are a great start) to gauge their thoughts on the value in your proposed renovations.
Are you interested in selling your home following a renovation or looking for project home? From St. Augustine up to and around the Jacksonville Metro Area, I would welcome the opportunity to discuss your plans. Please contact me and let’s chat about your real estate goals.