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 The Biggest Bang For Remodels

   January 2015


 New Entry Door is The Biggest Bang
For Your Remodeling Buck

Want to get the best return on your remodeling investment? Stick to the exterior of your home, according to the 2015 Cost vs. Value report from the National Association of Realtors® and Remodeling Magazine.

Realtors® across the country said a steel entry door would return 101.8 percent of its costs – the only project that had a positive return on investment.

The relatively low cost of replacing a steel entry door ($1,200) may have something to do with why it’s almost always at the top of the annual list of remodeling projects that recoup their cost.

The Cost vs. Value report tallies the opinions of Realtors® and also delivers estimates for the average cost of completing common home renovations.

Here’s the national data: 

10 Biggest Bangs For Your Remodeling Bucks:

Project      Return
Steel entry door        101.8%
Manufactured stone veneer         92.2%
Garage door replacement (midpriced)    88.5%
Fiber cement siding replacement   84.3%
Garage door replacement (upscale) 82.5%
Vinyl siding replacement   80.7%
Wood deck addition   80.5%
Minor kitchen remodel   79.3%
Wood window replacements   78.8%
Foam-backed siding replacement   77.6%

The report is a great starting point if you’re looking for data about home remodeling costs and potential returns, but nothing beats having an inside view of the local market.

The key to getting a good bang for your remodeling buck is to keep up with the Jones’ while never surpassing them. You won’t recoup the cost of putting gold-plated faucets in the bathroom of an entry-level home. Likewise, you’ll turn off luxury buyers if you put vinyl tiles down when you replace the kitchen floor of an upscale home.

If you’re thinking of remodeling, feel free to contact me, and we can discuss the options. I’m in and out of homes every day. I know the local market and what’s in the inventory of homes for sale. I see what buyers are looking for in a home, and I can tell you what’s typical for your neighborhood.

Source: HomeAction
Edited by Barbara Allen

  Barbara Allen

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