Ramesh Rao Blog November 28, 2023

Make Informed Remodeling Decisions, Maximize ROI

Business people working together on a building project, desktop top view with tools, wood swatches, mobile phone and blueprint

Given the changing real estate market, clients may wonder whether or not to renovate and question which projects should take priority. They also may be interested in which upgrades provide the best return on investment (ROI).

A recent Fixr report, Home Remodeling Statistics and Trends of 2023, sheds light on remodeling trends, homeowners’ spending habits, and interior design preferences.

You can share the following data, statistics, and insight with clients to guide them towards the best decisions and incorporate the information in your newsletters and marketing materials.

Here are some Fixr facts:

  • Spending on homeowner improvements and repairs grew by 78% from 2014 to 2022, with an increase of $65B between 2021 and 2022 — the highest increase in the past ten years.
  • The median annual spending per household on home improvements is $22,000 — 69% higher than the 2019 median spending ($13,000).
  • Homeowners invest the most money in HVAC ($56.6 billion) and roofing ($72 billion) projects.


For clients focused on maximizing their return on investment, point them to this chart.

Top 11 projects with the highest ROI in 2023

Project ROI 2022 ROI 2023 Change from 2022
HVAC Conversion | Electrification 103.50%
Garage Door Replacement 93% 102.70% 9.70%
Manufactured Stone Veneer 91% 102.30% 11.30%
Entry Door Replacement | Steel 64% 100.90% 36.90%
Siding Replacement | Vinyl 67% 94.70% 27.70%
Siding Replacement | Fiber-Cement 68% 88.50% 20.50%
Minor Kitchen Remodel | Midrange 71% 85.70% 14.70%
Window Replacement | Vinyl 68% 68.50% 0.50%
Bath Remodel | Midrange 59% 66.70% 7.80%
Window Replacement | Wood 66% 61.20% -4.80%
Roofing Replacement | Asphalt Shingles 60% 61.10% 1.50%


Fixr also offers insight into design features like the popularity of wallpaper, mixing materials and textures, and combining neutrals with vibrant colors.

Additional resources to keep you up to date include: