Every remodeler hopes that their efforts result in an increased return on investment (ROI), but not all projects yield similar profits. Here’s why new windows are usually a better bet than an entertainment system.
1. Replace the Siding
First impressions are lasting ones, and changing the siding on the house gives it a better aesthetic from the street, aka curb appeal. There are three different types of siding available, each bringing their own separate values to the remodeling project: fiber-cement, comprised of sand, cement and cellulose, recoups about 78% of the national average; vinyl, which recoups about 69%; and foam-backed, which nets about the same as vinyl but costs a little more.
2. Replace Old Windows
Windows are one of the leakiest spots on the house, not to mention one of the first burglars try to compromise. Increase the value of your home by adding new windows; while it’s a costly venture, it’s also a profitable one. A set of new windows will cost between $10,000 and $20,000, but the ROI is 69-72%.
3. Change the Front Door
The front door is the first door anyone sees from the street, so a good one needs a high aesthetic value. But function also matters, with a steel entry door offering security and an ROI of about 96%. Just make sure that it’s attached to the frame strongly and securely, and opens out in hurricane/tornado climates and in elsewhere.
4. Adding a (Wood) Deck
Wood decks in the backyard aren’t just for the current homeowner, as future ones also want a gathering place in the back, too. By building a deck from wood, you’re adding a hugely flexible addition with enormous ROI: 73%. But before you break out the planks and nails, research to make sure you’ve picked out the right kind of wood for your climate so it doesn’t warp before you can recoup its value.
5. Shingle a New Roof
A roof is the main thing separating the contents of the home from the elements outside, and a sagging roof isn’t going to convince many people there’s a good barrier in place. Depending on the materials used, a new roof lasts anywhere from 20 years (wood shingles) to 100 years (slate) and brings an ROI of about 75%, but caution should be applied: different climates warrant different materials, with a terra cotta roof excellent for hot, dry weather, but poor in cold, wet climates.
Although there are many home additions that add incredible resale value to your home, choosing which ones pay off most is a fairly cut-and-dry list.