In a recent article from the San Jose Mercury News, http://www.mercurynews.com/los-gatos/ci_25128176/exterior-projects-rated-most-valuable-home-improvements, realtors rated what they considered as the most valuable home improvement exterior projects. In the 2014 Remodeling Cost vs. Value Report, homeowners who make improvements to the exterior of their home, such as doors, house painting and window replacement, can gain back as much as 78% in their remodeling cost upon the resale of their home.
The report conducted this research by comparing the remodeling, additions and replacements costs with the resale value for 35 midrange and upscale home improvement exterior projects. Agents in 100 markets across the country, are asked to provide their insight into the local markets and buyer’s home preference within those markets. They are then to judge a range of exterior project and their recoup value including siding replacements, garage doors replacements and deck additions.
Of those rated as top exterior remodeling projects were window replacements. It has been found that wood window replacements can recoup up to 79.3% of the cost and vinyl window replacements can recoup up to 78.8% of the cost.
Realtor advise not to jump into home improvement projects so readily without doing research and understanding remodeling trends as they differ from neighborhoods to neighborhoods and from region to region.
By: Paul Doh