Top Ten Remodeling Tips for ROI
According to the Remodeling 2010-11 Cost vs. Value Report (www.costvsvalue.com) these are the Top Remodels you can do to improve the value of your home while also obtaining the highest return on your investment in San Antonio area.
#1: Steel Front Door
Return on investment: 109%
Installing a mid-priced steel door costs less than $1,200 and creates nearly $1,300 in value. Replacing your front door is a cost effiencent and cost effective way to increase the value of your house, and this update will MAKE YOU MONEY!
#2: Fiber-Cement Siding
Return on investment: 97.7%
Adding new siding is like buying a new outfit for your house and fiber-cement siding is the upscale choice. It costs a little more than foam-backed vinyl siding, and it adds more value according to the Cost vs. Value report. Also new siding reduces your energy bill, while keeping your home cooler! Better insulation is a great selling point and a way to differienciate your home from others in the neighborhood without over spending.
There is nothing more appealing than a quite home. Buyers are looking for homes with double pane windows, not only because it creates a quite serene home, it also lowers your energy bill in the summer and winter, making it harder for your A/C or heat to escape. (Get a quote from Lorraine)
Updating the kitchen by refacing the cabinets, adding a new laminate countertop, sink and faucet, then finishing up with a new resilient floor will bring your kitchen up to date for an average cost of about $21,000. Ripping it all out and starting new will run you $54,000 and returns about 81 percent, according to the Cost vs. Value report.
#5: Vinyl Siding (Mid-Range Neighborhoods)
Return on investment: 79.9%
When choosing replacement siding, follow the neighborhood. If everyone is using vinyl, there''s no gain for you in opting for more expensive, fiber-cement siding.
If you live in an upscale neighborhood, consider foam-backed vinyl siding to increase energy efficiency. Consider the bottom-line cost including window trim and do the math first to make sure you'll see real savings on your utility bill.
Updating the kitchen by refacing the cabinets, adding a new laminate countertop, sink and faucet, then finishing up with a new resilient floor will bring your kitchen up to date for an average cost of about $21,000. Ripping it all out and starting new will run you $57,000 and returns only 72.1 percent, according to the Cost vs. Value report.
Since the return is about the same for vinyl and wood windows, consider what's standard in your neighborhood. As with all remodeling projects, your safest bet is to match, but not exceed, what the Joneses have.
#9 Vinyl Windows
Return on investment: 76.5% to 76.6%
Be wary of any claims window companies make about how much new windows will save on your energy bills. "The payback on windows isn't always quick, unless you're living with a really old set of windows," Alfano says.
#10: Basement Remodel
Return on investment: 75.4%
In the Cost vs. Value report, this is a big project -- creating a 20x30-foot family getaway with a wet bar, recessed lighting and bathroom with shower. In essence, you are adding living space. Average national tab for all that is about $62,000, and you'll get back an average of $46,825 at resale, the survey predicts.