If you’re considering a remodeling project in your home, you may only be thinking about the value it can add to YOUR family. But whether you plan on selling your home in a few months or a few years, it’s wise to consider the value to potential buyers when planning a particular project. There are some projects that add more value than others. For example, a new steel door can recoup about 97 percent of the cost when you sell your home, says CBS MoneyWatch.
Exterior work is at the top of the list when it comes to financially savvy remodels. This is because it offers the most visible representation of your property, giving you a bigger bang for your buck. First impressions are everything, and it’s just a fact of life that people equate the appearance of your home’s exterior with what’s on the inside. All too often, buyers pull up to a house curb-side and decide not even to go in because the outside doesn’t look well maintained.
Let’s take a look at some of the most valuable remodeling projects, inside and out, that will help you recoup your investment later on.
Featuring fade-resistant finishes and lifetime warranties, vinyl siding adds great value to your home due to the low maintenance requirements. The average cost is about $13,000 for a modest size house, with an ROI of 75 percent at $10,000.
The ROI is even better if you go with fiber-cement siding instead, which offers a payback of 83 percent. Yes, you’ll spend more initially, about $18,000 with a return of $15,000, but you’re getting a higher quality product.
New windows may not be as visually stunning as other “sexier” remodels like kitchens and sunrooms, but they ca hold their own when it comes to ROI. They do add to the beauty of your home, both inside and out, but they also add to your energy efficiency, making a $10,000 expenditure able to increase the asking price on your house by $8,500. This translates to an 85 percent ROI.
Today’s average cost of a bathroom remodel is about $17,000, which involves fixture replacement, new tub with ceramic tile, new shower, toilet, tile floor and updated cabinetry. The return on investment is 74 percent.Basement Refinish
An average cost of $62,000 can yield a return on investment of 77 percent. Typical work would involve adding finished walls and ceilings, heating system, entertainment areas, wet bar, bathroom, flooring and furnishings.
Hi-Tech Windows & Siding can help you increase the value of your home with siding or replacement windows. Call us today at 800-851-0900 for a free, no-obligation estimate.