Best home improvements for your renovation dollars for your renovation dollars

ARA Homeowners renovate for two basic reasons: money and fun. Or, more precisely, they undertake home improvements to improve their home's resale value or their enjoyment of their house. The best home improvements, however, are ones that deliver on both objectives.

Americans will spend nearly $141 billion on remodeling in the first half of this year, according to Harvard's Joint Center for Housing Studies. If you'll be among the many homeowners opting to improve, rather than move, you may be wondering what renovations are likely to give you the best balance of enhanced resale value and immediate enjoyment.

Here are five home improvements - from budget-friendly to big budget - that provide noteworthy return on investment (ROI) in terms of increased value and improved enjoyment:

1. Skylights

You can lower your electric bill by installing skylights that will reduce dependency on artificial light and fill your home with natural light. You can obtain quality, energy-efficient, "No Leak Skylights" from Velux for around $800 per unit for a standard fixed skylight with flashing kit. You can find a local installer to provide a customized cost estimate at http://www.veluxusa.com. In terms of positive energy, the mental and physical health effects of exposure to natural light are well documented. They're also an effective privacy preserver for bathrooms where you might not want a wall window. Skylight and sun tunnels (skylights that use reflective tubes to bring sunlight into rooms without direct roof access) not only enhance the energy efficiency of your home, they just may make you feel better about living there.

2. Decks

Whether you go for wood or composite, adding a deck is a great way to boost resale value, expand your living space and up your enjoyment of your home environment. On average, homeowners who add a wood deck can expect to recoup more than 80 percent of its cost when it comes time to sell, according to Remodeling Magazine's 2009-2010 Cost vs. Value Report. Composite deck additions return about 71 percent at the time of resale.

3. Kitchens

It makes sense that the room where most families spend the bulk of their time would be a popular remodel - and one that pays off big in terms of value and comfort. Even a minor kitchen remodel - costing about $21,000 - will return about 78 percent of its value on resale, according to Remodeling Magazine. A major kitchen job, costing around $57,200, will recoup about $41,200, or 72 percent.

4. Baths

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Best home improvements for your renovation dollars for your renovation dollars