May 5th, 2019 7:06 AM by Jackie A. Graves
make us happier in the places we call home, but some of the most dramatic
updates can add real value when it’s time to sell.
kitchen, deck and other upgrades can represent a significant cost, it’s helpful
to know what kind of return you might expect before you decide to write a
the number one pain point for most remodeling professionals when they meet with
potential clients,” says Clayton DeKorne, chief editor of the JLC Group, a
collection of magazines serving building professionals. Since 2002, the
organization’s Remodeling, a magazine for the construction industry, has
produced the annual Cost vs. Value report, which examines the cost of popular
home renovations versus the return on investment (ROI) at resale.
The 2019 Cost
vs. Value report compares the average cost of 22 remodeling
projects with the value those projects retain at resale in 136 U.S. markets,
based on a survey of 3,000 real estate agents and firms. It’s important to
note, however, that costs can vary greatly by region based on the cost of labor
and materials, as well as the level of service offered by individual
project, there are the so-called hard costs of labor and materials, but the
real value is a combination of personal enjoyment and additional value at the
time of a home sale.
project on the list that returns lower than 50 percent,” DeKorne explains. “On
the lower end of the ROI spectrum are the bigger-ticket projects that have a
whole lot of personal selection involved, such as choosing finishes in a
bathroom remodeling project. They may or may not translate from one buyer to
the next, but there is value in those personal finishes. A homeowner is going
to get enjoyment in those things while they’re living there.”
plan to stay in your house for a long time or just a few years, it’s smart to
know which home renovations add the most value. Here are the six home
remodeling projects that deliver the highest returns.
Garage door replacement
good-looking garage door tops the list when it comes to getting cash back on
your investment when you decide to sell your house, according to the 2019 Cost
vs. Value report. The estimate for this job is based on the cost of removing
and disposing of an existing 16-by-7-foot garage door (or two-car garage door)
and replacing it with a new four-section garage door with heavy-duty galvanized
steel tracks, assuming the motorized garage door opener is compatible. This
curb-appeal enhancer will get you back almost every dollar you spent on it when
you sell your house.
Manufactured stone veneer
vinyl siding with stone veneer on part of your home, such as an entryway, is a
big curb-appeal upgrade for your home. For this project, existing vinyl siding
is replaced with adhered manufactured stone veneer. This average cost estimate
is based on installing 36 linear feet (LF) of sills, 40 LF of corners and one
address block, with materials including two layers of a water-resistant
barrier, corrosion-resistant lath and fasteners and more. This cosmetic
improvement and accent design element is likely to catch the eye of a potential
buyer and can allow you to recoup nearly 95 percent of your renovation costs.
Minor kitchen remodel
modern-looking and functional kitchen can add more than just value to your
home: it can boost your enjoyment of everyday activities like cooking,
entertaining friends and sharing meals with your family. However, potential
buyers see the intrinsic value of this kind of upgrade. On average, you’ll
recoup a little more than 80 percent of the cost of a minor kitchen remodel. In
a remodeling project of this kind, you might replace appliances with new, more
energy-efficient models, reface cabinets with new shaker-style wood panels,
install new countertops, replace hardware, install a new sink and faucet, add
new flooring and repaint.
Deck addition (wood)
lucky enough to own a house with a big yard, having a wooden deck can be an
extra enhancement to enjoy the outdoors around your home. The average cost of
adding a wooden deck from scratch (estimated based on a 16-by-20-foot deck,
including a railing system with pressure-treated wood posts, railings and
balusters) is approximately $13,333. But the good news is that this feature,
which also includes a built-in bench and planter, can hold more than 75 percent
of its value come sale time.
dilapidated siding can make even the nicest house look worn-out. For the
average home, replacing 1,250 square feet of old siding will cost you just over
$16,000 and you’ll get back roughly three-quarters of that investment upon
resale. This upgrade includes the factory trim at the openings and corners.
Entry door replacement (steel)
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