12 Remodeling Ideas That Will Pay Off
Each year Remodeling Magazine produces a cost vs. value report for nationwide and regional trends. The 2017 report points to the traditional remodeling projects as those that will pay off but there are a few remodeling ideas that will surprise you.
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Remodeling Ideas: Loose Fill Attic Insulation
Adding attic insulation remains at the top of the list on a national average with a 107 percent cost recoup. It's the only project that recoups the cost and adds to the resale value. The cost of installing loose fill fiberglass insulation has risen by 5.9 percent in the past year. Insulating an attic will also save money on energy costs.
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Remodeling Ideas: Steel Door Replacement for Entryway
A steel entry door ranks second on the list with an average recoup of 90.7 percent of the cost in resale value. The average cost of the job ran $1,413 nationally and the resale came in at $1,282. See how to install a door in a day.
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Remodeling Ideas: Manufactured Stone Veneer
A manufactured stone veneer project remains high on the list of valuable home updates as well. An average of 89.4 percent of the cost of the remodeling project is recouped in resale value. See how to install a stone veneer in your home.
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Remodeling Ideas: Minor Kitchen Remodel
People can go wild with kitchen remodeling projects, but it's not necessary. A minor kitchen remodeling project recoups more of the cost than a major one. A minor kitchen remodel had an average cost of $20,830. Of that, $16,699 was recouped, or 89.4 percent. A major kitchen remodel project with an average cost of $62,158 returned about $40,560 in resale value for 65.3 percent cost recoup. Make kitchen remodeling a breeze with these kitchen remodeling tips.
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Remodeling Ideas: Garage Door Replacement
Replacing a garage door is big for curb appeal, and it's also big for recouping the cost of the project. A garage door replacement is one of the cheaper projects with an average cost of $1,749, but it also returns an average of $1,345 in resale value. Find out how to replace a garage door.
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Remodeling Ideas: Fiberglass Entry Door Replacement
On the list of upscale remodeling projects, a fiberglass entry door replacement recouped 85 percent of the cost. Learn how to replace an exterior door.
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Remodeling Ideas: Siding Replacement
Appraisers typically look at the structural elements of a home as part of their process and siding usually plays a part in that. A siding remodeling project carried an average cost of $14,518 and recouped 76.4 percent of the cost. Find out how to replace siding.
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Remodeling Ideas: Window Replacement
Addressing your windows isn't just window dressing. Potential buyers will notice them and so do appraisers. Vinyl and wood have comparable recoup rates but wood has a higher average cost and nearly one percent less recoup rate. If you've got questions about buying new windows, get the answer to them before you buy.
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Remodeling Ideas: Universal Design
Aging-in-place or universal design is gaining traction among baby boomers who'd rather continue to live in their homes than have to move later in life. Universal design involves reworking a home so it functions for wheelchair mobility and adds safety features like grab bars in convenient places. The recoup rate is 68.4 percent, according to Remodeling Magazine.
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Remodeling Ideas: Roof Replacement
The roof is one of the most important parts of a home so replacing one is an important project that home buyers will notice. It also turns out to be a pretty good investment, which recoups 68.8 percent of the cost in resale value. Learn common roof problems and how to fix them.
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Remodeling Ideas: Deck Addition
A wood deck addition falls on the inexpensive side of remodeling projects, but it's one of the more valuable. Remodeling Magazine's report finds a deck addition has a national average cost of $10,707 and a resale value of $7,652. Check out easy deck inspection tips and how to repair a deck.
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Remodeling Ideas: Smart Home Technology
Smart devices are infiltrating homes at increasing rates. Statista, a market research firm, found 33 percent of homes have one connected device and that number could rise to 60 percent by 2021. These smart devices can even detect leaks in your water heater. Check out smart devices for the home.
Originally Published: May 10, 2019