Every homeowner who hires a contractor to provide home remodeling expertise has different reasons for making the hire in the first place. However, some reasons are more common than others and one of the most common reasons today is to increase their home’s resale value. So which home remodeling projects help increase resale value the most? We used the 2014 Cost vs. Value report to explain the top 10 most beneficial remodeling projects and why they are worth so much.
10. Composite Deck Installation
Composite deck installation not only expand the livable space of your home, they also provide an excellent, durable exterior entertaining area which is resistant to most everything you can throw at it. Composite materials are composed of wood fiber along with plastic or vinyl and are now designed to look just as beautiful as natural wood surfaces but with a much higher level of resilience. Homeowners who receive composite deck installation can expect an average of 74.3% of their investment returned upon resale.
9. Basement Remodeling
Basement remodeling is becoming very popular across the country nowadays as homeowners begin viewing the space as much more than a place for storage and laundry. Basement remodeling contractors can turn your once unused space into a number of distinct environments, frequently including space for an office, an entertainment center, a spare bedroom, or a purely recreational space. Given the typically large size of basements many options are available and that means a great deal of customization for potential homebuyers. Basement remodeling, on average, has a return on investment of 77.6%.
8. Vinyl Siding Replacement
As we said with composite deck installation, vinyl materials are factory made to be highly resilient against everything from extreme temperatures to extreme precipitation. In fact, many higher quality vinyl siding brands now offer a lifetime warranty on their product’s quality. Plus, vinyl siding has evolved a great deal since it’s first introduction to the American market to the point that it is now available in styles, colors and textures which can imitate anything from natural wood to natural stone and brick all without succumbing to the the pitfalls of those materials themselves. Vinyl siding replacement typically returns 78.2% of homeowner investment once the house is sold.
7. Vinyl Window Replacement
As with vinyl siding replacement projects, vinyl window replacement provides many benefits over other materials like wood window installations. The most important of these differences all derive from the make-up of vinyl windows themselves. They, like vinyl siding, are manufactured in such a way that they withstand a great deal of extreme conditions without any rotting, peeling, cracking, or otherwise deteriorating from the natural elements. What’s more, vinyl windows are highly energy efficient and in many cases cost less to install compared to other materials. Homeowners who have vinyl window replacement performed on their residences can expect 78.7% of their investment returned upon reselling their home.
6. Wood Window Replacement
Wood window replacement projects are very visible and very stylish. For this reason alone, homebuyers love seeing them included in the homes they’re looking at. Many of the wood window materials employed today offer features like a wide-variety of wood styles and types, an optional vinyl or aluminum exterior layer to provide weather-proofing, and even a completely customizable appearance which can be painted or stained to match the style elsewhere in your home. Wood window replacement has an average return on investment of 79.3%.
5. Minor Kitchen Remodeling
Kitchen remodeling is reliably one of the most popular and resale value increasing projects a homeowner can have performed. With a “minor” kitchen remodel, the average homeowner can have a number of tasks tackled: everything from a new coat of paint to more resilient flooring and from replacing appliances to refacing cabinets. These “minor” changes can have a major effect on the look and feel of your most frequented room and can convince potential homebuyers that your kitchen is brand new. Because of all these possible changes, homeowners who have a minor kitchen remodel can expect, on average, 82.7% of their expenses returned.
4. Garage Door Replacement
Homeowners don’t often think about garage door replacement when they start planning home remodels but the quick and fairly simple act of removing your old garage door to make way for a fresh, new one has proven to be one of the most beneficial changes a homeowner can have performed when it comes time to sell their house. There’s a wide variety of styles, colors, and materials which you can choose from when your shopping for a new garage door, meaning that your home’s overall appearance can be matched beautifully by at least one of the myriad options. And with professional garage door replacement contractors completing the job in just a few hours you can have 83.7% of your investment returned to you at time of sale.
3. Attic Bedroom
Today homebuyers are looking to get the most out of every inch of their home. That’s why projects like deck installation, basement remodeling, and yes, attic bedroom designing are all featured on this list. Remodeling an attic space into a functional bedroom and bathroom requires quite a number of different tasks to see the work done properly, everything from HVAC and plumbing work to lighting, carpeting, and furniture and appliance installation. However, for the price homeowners can add an enormous new room to their home’s feature list without having to pay for the even more costly addition on the ground floor. These attic bedroom remodeling projects provide an average 84.3% return on investment across the United States.
2. Wood Deck Addition
Natural wood decks are a huge selling point for homebuyers who view them not only as a place to entertain and gather but even as an additional room. Their stylish look, sturdy construction, and variety of different customizations make them a perfect match for nearly every home and design sensibility. Plus, when installed they are largely worry-free for the first couple years of ownership aside from some routine maintenance and cleaning work. Homeowners who have a wood deck addition project performed typically see 87.4% of the project’s expenses return to them at the time of home selling.
1. Steel Entry Door Replacement
Surprisingly, the home remodeling project which returns the most money during resale is replacing your entry door with a steel option. Steel entry doors typically have a 20-gauge steel center with a layer of other material, typically vinyl, on either side which is offered in a variety of different material imitations and colors. This project is both affordable and efficiently performed by specialized door contractors and, on average, provides a whopping 96.6% of investment back to the homeowner when they’re ready to put their home on the market.