Which home improvement ideas will give you the most value upon resale?
Remodeling Magazine publishes an annual “Cost vs. Value Report” detailing the average job cost and cost recuperation. These projects had the highest percent cost recoup of any others (based on the New England region). This is the updated top ten list for 2013.
- Entry Door Replacement – Jumping to #1 in 2013 for Remodeling Magazine’s list was entry doors, a well-installed entry door can pay you back an average of 83% off the cost upon resale. Combine that with the tax rebates from 2012-2013 up to $500, and doors top out the list of money that can be paid back.
- Fiber Cement Siding – This relatively new product is catching on rapidly in the U.S., in 2012-2013, fiber cement siding has a 77.6% cost recuperation in New England according to Remodeling Magazine’s annual cost vs. value report.
- Garage Door – A new garage door had a cost recuperation value of 71.4%, and with good reason. Garage doors today are much more efficient than in years past, and the mechanisms of operation should last longer now.
- Vinyl Siding – Jumping up 4 spots this year from last year is vinyl siding. Vinyl siding adds loads of value to your home, and typically carries an extended warranty, making it a best buy. On average homeowners recoup 70.2% of cost upon resale in New England.
- Foam-Backed Vinyl Siding – Although last year Insulated vinyl siding paid back more than regular siding, this year they have swapped places because of people looking at other means like attic insulation to control energy use in the home. Still a high-payback product, foam-backed vinyl siding pays back an average of 69.5% upon resale in New England.
- Deck Addition (Wood)– Keeping it’s same spot from last year and at 69.4% resale value, building a wooden exterior porch or deck is one of the fastest, easiest, and best looking ways to add value to your home. Make sure that you hire a respected builder to complete the task though, or the longevity of the deck may be in question.
- Minor Kitchen Remodeling – Minor kitchen remodels paid back 66.2% upon resale. Things like refacing cabinets and checking the plumbing can pay off huge when selling a home.
- Adding an Attic Bedroom – An expensive job with an average cost of $50,000 dollars, adding more living space to your home will give you a 65.9% return on your investment, and certainly the most amount of money in cold cash.
- Wooden Replacement Windows – Wooden replacement windows can still add significant value to your home. Although more expensive than vinyl windows, for some people these products are a must have for nostalgic purposes. They don’t last as long as vinyl but they had a 65.9% resale value.
- Vinyl Replacement Windows – The average recuperation cost (even after years of use) was 64.2%. Vinyl replacement windows also carry hefty warranty. A&A Services, the author of this list, specializes in installing vinyl replacement windows.
An overall trend between this year and last year is that resale values for all (except doors) products have dipped slightly. We do not install all the products in this list. To see last years list or to check our facts, This list is made from actual data from this source.
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