If you’re considering remodeling your MN home, what is the main reason? Comfort, function and appearance are all good reasons. But when you’re considering a which home improvement projects you should tackle and which you should not, it is best to think about payback potential.
What projects will raise your home’s value high enough for you to recoup on your investment?
Remodeling Magazine can help you decide with their list of remodeling values of 2015.
Most people associate remodeling with bath or kitchen makeovers, but neither of these give a great return on investment (ROI). Upscale bathroom and kitchen remodeling recouped costs in the range of 59-60%, with mid-range projects rising to 67-70%.
Basically, to recover costs on your projects, smaller is best. Out of 36 projects Remodeling Magazine compared, four of them were estimated less than $5,000. None of the projects finished in the lists top 10, which cost more than $25,000. Three of the top five in terms of ROI on this list cost under $5,000; those projects included:
The other ones in the top five ROI were in the expense range of $5,000-%25,000.
We here at Window Outfitters install James Hardie fiber siding, which delivers well in terms of return on investment, according to these recent figures.
Poor returns came from such projects as sunroom additions (48.5%) and home-office remodeling (48.7%).
Another common thread with high return projects is that the majority were exterior projects. When it comes to selling a home, curb appeal is extremely important, and interior projects tend to cost more than exterior projects, making exterior projects more valuable in terms of getting a good increase in value for your investment.
Rather than a full remodel project, replacements have better payoff, such as windows, doors, siding, etc. Replacement payoff was 12.4% higher compared to remodeling.
But there is no reason to dive into these remodeling projects for the sole purpose of increasing your home’s value. Remodel as you want, and replace as you need. Let your home renovations fit your needs and visions. But if you’ve got a list of projects to pick and choose from, you may want to consider which project will deliver the most value.
Contact Windows Outfitters Inc. for a free professional estimate today. We offer a variety of exterior home improvement solutions that make this ROI list, including replacement steel entry doors from ProVia, manufactured stone veneer, and fiber cement siding. We can make sure that you get the highest return for your investment, with the right ones!
Window Outfitters is a premier Window Replacement, doors, siding contractor and installer. As Contractor in the St Paul, Minneapolis, (Twin Cities) Minnesota (MN) metro, we proudly serve, but are not limited to, the following areas: Minneapolis Energy Efficient Vinyl Windows, Replacement Window Contractors Minnesota, Burnsville, Apple Valley, Lakeville, Savage, Bloomington, Edina, Richfield, Eagan, St Paul, Hastings, Minnetonka, Plymouth, Maple Grove, Eden Prairie, Farmington MN, Chaska, Shakopee, Chanhassen, Victoria, Mendota Heights Anderson Windows Minneapolis, Marvin Windows Minneapolis.
