Exterior home improvements are considered among the most valuable
According to Remodeling magazine’s 2013 “Cost vs. Value Report,” Realtors consider exterior home improvement projects among the most valuable. In fact, a majority of the Top 10 projects in terms of value recouped at resale are exterior replacement projects. This makes sense given the importance of curb appeal in attracting homebuyers.
Based on interviews with real estate professionals throughout the country, the Remodeling report found that the top project is steel entry door replacement, which typically recoups 85.6 percent of costs. Making this project an even better investment is that it is also the least expensive to complete. In addition, three different siding replacement projects and two other door replacements were among the Top 10.
When it came to improvements to a home’s interior, there were two projects ranked in the Top 10. Ranked fifth, a minor kitchen remodel is expected to return 75.4 percent of costs, while adding an attic bedroom and bathroom came in tied for eighth with 72.9 percent of costs recouped.
The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings.
Click here to access the “Cost vs. Value” website, where you can download data for all regions of the country.