The 2013 Cost vs Value report proffered by Remodeling Magazine compares the average cost for 35 popular remodeling projects with the value of those projects for resale. St Louis home improvement projects are itemized in their report and here are the top 7 cost vs value projects for STL home improvements for 2013:
1. Steel entry door replacement – 88.2%
2. Vinyl window replacement – 72.3%
3. Minor kitchen remodel – 71.3%
4. Wood deck addition – 70.5%
5. Vinyl siding replacement – 69.6%
6. Garage door replacement – 69.2%
7. 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 ratio 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 they 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.
Here are a couple of small projects for adding storage to a small kitchen in a minor kitchen makeover. See Houselogic for more ideas for small kitchen 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 you are doing, 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.
If you are contemplating some changes in your home, please contact me to arrange for a private consultation or a complete copy of the cost vs value list for St Louis. With all of the houses I see and show to clients, I have a “feel” for the trends and improvements that would add value to your home when it’s time to sell.
Barb Heise
Realtor in St. Louis MO
