Ann Tuscic's Blog:
Exterior replacement projects provide biggest return on investment for homeowners!
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Homeowners looking for the most return on their investment when it comes to remodeling should consider exterior replacement projects. According to 2013 Remodeling Cost vs. Value Report, Realtors rated exterior projects among the most valuable home improvement projects.
Realtors know that curb appeal projects offer great bang for your buck, because a home's exterior is the first thing potential buyers see, says National Association of Realtors President Gary Thomas. "Projects such as siding, window and door replacements can recoup more than 70 percent of their cost at resale. Realtors know what home features are important to buyers in your area and can provide helpful insights when considering remodeling projects."
Results of the report are summarized on NAR's consumer website HouseLogic.com which provides information on dozens of remodeling projects, from kitchens and baths to siding replacements, including the recouped value of the project based on a national average.
According to the report, interior remodeling projects can recoup substantial value at resale. A minor kitchen remodel is ranked fifth and is expected to return 75.4 percent of costs. Nationally, the average cost for the project is just under $19,000. The improvement project projected to return the least is the home office remodel, estimated to recoup less than 44 percent.
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