A number of inexpensive exterior replacement projects are essential to regular home maintenance but also carry high resale value.
According to the 2011-2012 Remodeling Cost vs. Value Report, several home projects can recoup close to 70 percent of costs. The annual report compares construction costs with resale values for 35 midrange and upscale remodeling projects in 80 markets across the country.
“Exterior replacement projects, especially siding, window and door replacements, are essential to regular home maintenance,” said Gene Lentz, president of the Silicon Valley Association of Realtors. “These projects do not require expensive materials, and they improve curb appeal, which is important to those looking to sell their homes.”
Realtors surveyed said they expect upscale fiber-cement siding replacement to return the most money and recover an estimated 78 percent of cost upon resale. Two additional siding replacement projects – foam-backed vinyl siding and upscale vinyl siding – made the top 10. Other top exterior replacement projects are a steel entry-door replacement, expected to recoup 73 percent of cost upon resale, and midrange and upscale garage door replacements, expected to return more than 71 percent of costs.
Interior remodeling projects that real estate professionals consider worthy investments include a midrange attic bedroom remodel, expected to return 72.5 percent of cost, and a minor kitchen remodel and wood-deck addition, each expected to recoup more than 70 percent of cost.
A sunroom addition and a home-office remodel would give homeowners the least return for their money, recovering less than 46 percent of costs.
Remodeling magazine publisher Hanley Wood, LLC, in collaboration with the National Association of Realtors, publishes the Remodeling Cost vs. Value Report.
For more information and a list of projects to help homeowners boost the value of their homes, visit www.houselogic.com.
The Silicon Valley Association of Realtors provided information for this article. For more information, visit www.silvar.org or email Rose Meily at [email protected].
