These home improvement projects have a good return on investment
Homeowners love to know what the payback is for home improvement projects. The 2013 Cost vs Value report proffered by remodeling Magazine compares the average cost for 35 popular remodelling projects with the value added for resale. St Louis home improvement projects are itemized in their report and here are their top 7 projects for STL home improvements for 2013:
- Steel entry door replacement – 88.2%
- Vinyl window replacement – 72.3%
- Minor kitchen remodel – 71.3%
- Wood deck addition – 70.5%
- Vinyl siding replacement – 69.2%
- Garage door replacement – 69.2%
- Attic bedroom remodel – 66.8%
According to Remodeling Magazine, trends indicate that replacement projects are more popular than remodeling projects. Their comparison also showed that the cost vs value ration improved nationally for every project in this year’s survey and is higher than it was 2 years ago for both remodeling and replacement projects. As a matter of fact, in some cities some of the projects were actually showing a return of over 100%.
The report also determined that homeowners are continuing to scale back their plans by not adding on but repurposing the spaces they have. The findings indicated that homeowners are planning the home remodel in phases to spread the cost over time, being conservative when choosing fixtures and finishes and transferring the savings to be able to afford higher priced items that are more essential or desirable.
Pictured here are a couple of small projects for a minor kitchen makeover by adding storage to a kitchen. See Houselogic for more storage projects.
As you consider any home improvement projects it is very important to try to work with the footprint you already have to stay reasonably priced. Moving plumbing gets expensive. For creative ideas in any remodel project, I would suggest following Sarah Susanka, author of The Not So Big House and other books that are filled with great ideas for large living in small spaces.
If you are contemplating some changes in your home, feel free to contact me to arrange a private consultation. With all of the homes I see and show to clients, I have a good grip on what’s selling and not selling.
Click here to search for homes
