The reasons people on Cape Cod remodel their homes are as varied as the seashells on one of our beaches. But one thing they all have in common is a desire to make the best investment possible, one that adds value to their home.
The editors of Remodeling magazine recently conducted a nationwide “cost vs. value” study that quantifies just how much “return on investment” a homeowner can expect from the 35 most popular home improvement projects. The results are a surprising mix of repairs, additions and beautification projects. Here are the top ten projects as rated by the Remodeling study.
1. Replacing exterior siding with upscale fiber cement. Siding pays back a whopping 78%, on average, of the $13,461 average cost. The most cost-effective thing you can do to your home this year is to replace old siding with new, higher-end fiber cement.
2. Replacing an entry door with a midlevel 20-gauge steel door is an inexpensive upgrade at $1,238 on average, but it pays back 73% and greatly improves curb appeal.
3. A midrange attic bedroom remodel involves popping out a dormer for a 5-by-7-foot bathroom with shower, insulating and finishing the walls and ceiling, adding four windows, extending the heating and air conditioning and improving wiring and lighting. The payback is 72.5% on the $50,148 average expenditure. An attic remodel is the cheapest way to add space and a bathroom within the house. A basement remodel is the next most cost-efficient way to add living space, although code requirements for headroom and exterior doors make that project more complicated and more expensive.
4. A midrange minor kitchen remodel paid back 72.1% of the average $19,588 investment. Included are new laminate countertops and new sink, faucets and appliances. The floor is untouched and cabinets are kept in place but refaced with new hardware added.
5. A midrange garage door replacement may not be high on many wish lists; it’s one of those jobs that you do because it’s needed. But it adds curb appeal and function, and it pays back 71.9%, on average, of the $1,512 average cost.
6. A high-end garage door replacement recoups almost as much, 71.1% of the $2,994 average cost.
7. A new wood deck earns back 70.1%, on average, of its $10,350 cost. Decks made with engineered wood or composites have a greater appeal.
8. New foam-backed vinyl siding replacement keeps the house warm and pays back 69.6% of its $14,274 average cost. The average project involves 1,250 square feet of siding, including trim.
9. New midrange replacement vinyl siding upgrades the look of the home and pays back 69.5% of the $11,729 average price.
10. Upscale vinyl replacement windows have a 69.1% payback on the $14,328 average cost of replacing 10 double-hung 3-by-5 windows. The new windows are low-emissivity glass, with an insulated frame, that also help lower monthly energy costs.
Ready to make a wise investment in your home? We can help with any or all of the “top ten” remodeling projects. Call Capizzi Home Improvement toll-free at 800-809-0290 or visit our web site at http://www.capizzihome.com/
