Every homeowner wants to protect and enhance the value of their home. The best way to ensure that your home will retain its value – and even grow in value – over the years is to invest in projects to maintain and improve the property. But which type of home remodeling projects offer the best “bang for the buck”?
That is the question answered annually by Remodeling magazine, one of the most influential publications in the home improvement industry. Their “Cost vs. Value” study has become the benchmark for measuring return on investment (ROI) for renovation projects.
Among the highest rated projects ranked in Remodeling’s 2016 study for New England area homes are:
- Deck Additions – A new deck will return anywhere from 56.7% to 72.3% of your investment, depending on the materials used.
- Entry Door Replacement – A new front door will return an average of 75.8% (for fiberglass) to 80.8% (for a new steel door).
- Roofing Replacement – Replacing your roof generates an average return of 61.4% of the investment (but can also help protect the rest of your home from the elements!).
- Siding Replacement – The wide range of siding materials available is reflected in the similarly broad range of ROI, with vinyl siding returning an average of 67.4%, while fiber cement siding will earn you a 73.9% return.
- Window Replacement – In addition to reducing home energy costs, new vinyl windows will return 70.9% of their cost in increased home value.
As you can see, the type of material you select and the level of quality of the products you choose to install can affect the “payback” you’ll receive from your home improvement investment. Which is the best project choice for you? It all depends on the current condition of your home and which structural system is in most need of replacing.
Want to discuss your smart home investment with a pro from Hi-Tech? We’d be happy to evaluate your home and recommend the right project. Call us toll free at (800) 851-0900.