Part of the process of remodeling your home includes finding out what your return on investment (ROI) will be. There are some projects you should never sink your teeth into because you’ll lose money on it. However, there are others that provide a pretty good ROI. Every year, Remodeling’s Cost vs. Value report is published. This report details which home projects offer the best ROI for any given particular year. HouseLogic has taken this data since 2002 and compiled a report of their own that tells us which projects continue to have the best ROI over time. This is what they found.
Steel Entry Door Replacements – 98.0% ROI
Replacing your front door is one of the most fun and valuable projects you can do for your home. New front entry doors come in three flavors – steel, fiberglass and wood. Steel entry door replacements offer the highest ROI.
There’s a lot to consider when replacing your front door. There is a ton of hardware to choose from including locks, door knockers, door handles, kick plates and more. Furthermore, there are other considerations such as your front door configuration, color, style, the type of glass it has and more.
Fiber Cement Siding Replacement – 83.9% ROI
Replacing your siding has ended up on this list three times. Of course, siding replacement remodels do not apply to you if you have a house made from of brick or stone. However, for the many houses that are made out of some sort of replaceable siding, replacing that siding with the fiber cement siding can offer a value of up to 83.9 percent ROI.
Fiber cement is among the strongest and longest lasting materials you can replace your current siding with. It is a manufactured material – it won’t rust or fray. If you choose the right color, you don’t need to paint it.
Minor Kitchen Remodel – 81.8% ROI
Minor kitchen remodels do not entail ripping out your entire kitchen and replacing it. Instead, we are talking about minor upgrades. In this case, the word “minor” is nothing to be scoffed at. Things like a countertop replacement or a stove upgrade qualify as minor upgrades. Other upgrades may include a new kitchen floor, new cabinetry or even a new faucet. When it comes to improving your kitchen, you can get the most out of upgrading the utilities. In other words, things that people need and use the most. These things include plumbing, lighting, stove and ovens.
Vinyl Siding Replacement – 81.5% ROI
Vinyl siding is the next cheapest and most economical option for replacing your current siding. As a manufactured material, it also doesn’t rust, fray or erode. Vinyl comes in several colors – eliminating the need to repaint.
Garage Door Replacement – 80.7% ROI
Garage doors have two functions – they open and close. Do you know what else garage doors do? It keeps your car safe from the elements. It keeps your workshop safe. It gives you a place to put dirty tools such as lawnmowers and leaf blowers. More often than not, you’ll see garages used as a storage area. They keep rodents, intruders, and inclement weather from damaging your stuff.
Wood Deck Addition – 80.6% ROI
Wooden decks are among the nicest features homes can have. At least, that’s my opinion. A wooden deck with a functional awning that keeps your deck shaded from the sun and protected from rain will allow you to go outside without really going outside. It’s great for backyard barbecues, having your friends over, or simply stargazing. Some people choose to build their wooden deck around an above ground pool, giving the illusion that the pool is actually built underground – when it’s not. See what I did there?
Foam-Backed Vinyl Siding Replacement – 79.5% ROI
Foam-backed vinyl siding placement offers an element of insulation to your home. This can have a direct cost correlation to your heating and cooling bills. Insulation keeps the summer heat out in the winter heat in. The beautiful thing about vinyl is that it can be made to look like other, more expensive materials such as wood, brick or even stone.
Attic Bedroom Remodel – 79.3% ROI
Turning your attic into a bedroom is one of the other areas that is proven to be an excellent investment for your home, year after year. It’s kind of a novelty when you lay down on a bed in an attic and you know that the roof is right there within arms reach. On top of that, you’re far above the ground, and heat rises, keeping you warm at night.
Vinyl Window Replacement – 78.6% ROI
When you replace your windows with a newer, vinyl window, you can expect up to a 78.6 percent return on your investment. Newer windows have many options – including insulating options. Double pane windows have pressurized air or gas in between the panes offering and element of insulation. Some windows have mini blinds built in between the panes, eliminating the need for you ever to buy window treatments.
Bathroom Remodel – 77.1% ROI
Finally, bathroom remodels always give the perception of being worth a lot. In this case, the more you spend, the more you’ll get in return. The cheapest bathroom remodels include tiling the bathtub area, replacing shower fixtures, and replacing your sink and accompanying cabinet.
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