Cost Vs. Value – Part 1: Do This

We are back! With our special ‘Love Your Home!’ All about giving your home a little love this coming Valentine’s Day.

And by that we’re talking about improvements, upgrades or simple fix-ups, that can make this place you call home – better than ever!

Consider it a Valentine’s Day present – for your house.

So let’s look at 10 things you can do – to improve your home, and it’s value! This comes from Remodeling Magazine’s 2019 Cost vs. Value Report!

It’s an annual survey of real estate professionals, in which they report how much value home improvements cost, on average, and – how much of that amount the owner gets back – at the closing table!

The upgrades include flat-out renovations, like putting a second level on your home….and also quick fixes, like a new front door.

So for some of them – you’ll need a pro. For others, you can do them yourself, if you have the skills.

So let’s start by taking a look at ten of the improvements that can bring the most bang for your buck…in our next hour, we’ll look at the ten things that bring you the LEAST return on your investment!

First up? Replacing your garage door! That’s number one. If you spend the average amount do do it – around $3600 – you will get back around $3500 if you sell! That’s a return of more than 97%.

Next up, adding a new look to your home with a manufactured stone veneer. That’s up there – costing on average around $8900. And you sell, it will recoup around almost 95% of that investment….

Number three – a minor kitchen remodel. That could cost you around $22,500. But you’d get a pretty good return – nearly 81%.

Number four? adding on to your deck, using wooden materials! Cost? More than 13-grand. Return? Around 76%.

The fifth improvement? Replacing the siding on your home. It’s not cheap, at around $16,000….but it brings a return at the closing table of around 76% of that amount.

Number six? A new front door, made of steel. A new steel entry door is not that hard if you’re handy. If you’re not – get a pro. Cost? Around $1800. And you sell, it will add recoup around 75% of that investment….

Next up, number seven – replacing old wooden windows with new vinyl models. That project will set you back nearly $17,000…and your return? About 73% of that.

OK now, for number eight? Creating a grand entrance….that means replacing the standalone front door, with one surrounded by windows. Cost? Almost 9-grand. Return? Almost 72% of your investment.

Number nine? Another window replacement project…
but this time replacing old wooden windows with brand new wooden windows. Cost – more than $20K….but if you sell, you’d get back around 70% of that.

And number ten is another version of a deck addition – using composite materials. That project would cost around 19,000…and you’d get back nearly 70% of that if you sell.

So – if YOU want to show your house some love – those 10 projects will bring, on average, the best return on your investment.

But which projects bring the least return? Remodeling Magazine also reported on that end of the home improvement scale! We’ll look at those, in our next hour…on our special Valentine’s show – Love Your Home!

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