Return on investment (ROI) is an important factor to consider before committing to a home improvement project. What you think is a great investment, may turn out to be minimal or even null. The 2014 Cost vs Value report compares average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. We’ve taken the most noteworthy and showcased them below. You might be surprised what projects rank high on resale value, and which one’s might not give you the return you had hoped for. (*Figures are based on 2014 National Averages for Midrange projects. To narrow by region or project price, click link above).
-A major 2014 trend seen in this year’s report is the increase in ROI for exterior home improvements. (Two words: Curb Appeal!) Below are those that top the list, just in time for Spring.
The only project coming in above 90%, a steel entry door replacement is a low-cost way to boost your curb appeal, give you peace of mind and give you an almost full return on investment (in certain cities it does!).
*Entry Door Replacement (fiberglass) doesn’t get as high of a return, coming in at 70.8%
Deck Addition (wood): 87.4%
Even in regions that experience long winters (thanks a lot, Ohio), a wooden deck addition has a high recoup. Chalk it up to milking the sun for all it’s worth.
*A composite deck addition ranks more than 10% below a wooden deck, but still sits in around 74%.
Garage Door Replacement: 83.7%
A fairly low replacement project (averaging around $1,500) resales at about ($1,300), making this one of the more popular home improvement projects.
Replacing your windows has so many benefits like giving your home a complete facelift, potentially lowering your monthly utility bills, letting light into your home, making a room feel larger– we could go on and on. Now we have yet another reason to consider it: the high recoup.
*Window Replacement (wood): 79.3% scores a smidge higher nationally, but depends greatly on region.
The perfect way to make your home look like new. Replacement siding is a big project that pays off big as well. Not only in the way your home looks, but in the money you can recoup. A project that averages around $11,500, resales at about $9,000. It’s all about the curb appeal, people!
Bathroom Remodel: 72.5%
We know, we know, this isn’t categorized as an exterior project so what’s it doing on the list you ask? As one of the most popular renovation projects, it’s important to show the difference between a bathroom remodel and a bathroom addition. Coming in above 70%, a bathroom remodel not only costs less, but also returns more than an addition which is nearly double the cost at $38,000 and resales for about 60% of that.
Want to get a quote for your next home improvement project? (It’s free!) Give us a call at, 1-800-ROOM-NOW or go here!
Don’t leave without this! …
Mother Nature teased us with a glimpse of Spring and now we can’t stop thinking about ditching the heavy casseroles, hot soup and indoor cooking for some brightly – colored, light but satisfying, cooked on the grill meals!
On the menu: Grilled Shrimp Pizza
|¾||pound medium shrimp, peeled and deveined|
|1||red onion, sliced into rounds|
|¼||cup extra-virgin olive oil, plus more for brushing|
|½||teaspoon dried oregano|
|Kosher salt and freshly ground pepper|
|1||pound prepared pizza dough, at room temperature|
|1||cup cherry or grape tomatoes, halved|
|½||cup crumbled feta cheese|
|2||tablespoons chopped fresh parsley|
Preheat a grill to medium high. Toss the shrimp and onion in a bowl with the olive oil and oregano. Season with salt and pepper.
Stretch the pizza dough into a roughly 8-by-10-inch rectangle. Lightly brush the grill with olive oil. Lay the dough on the grill and cook until the top begins to bubble and the bottom is marked, about 3 minutes. Remove with tongs and put cooked-side up on a cutting board. Brush with olive oil.
Grill the shrimp and onion, turning, until the onion softens and the shrimp are lightly charred, about 5 minutes. Top the crust with the shrimp and onion, then slide the pizza back onto the grill. Top with the tomatoes and feta, cover and grill until the dough is cooked through and the cheese is soft, about 5 more minutes.