Home improvement projects can seem attractive as summertime comes around, but not all upgrades are equal. Remodeling magazine recently released its 2019 Cost vs. Value report, comparing costs for 22 of the most popular professional remodeling projects in 136 U.S. markets. The report outlines how much real estate professionals believe the various types of investment will improve a home’s resale value.
According to Remodeling, “curb appeal” projects, which enhance the appearance of a home, provide some of the highest returns because they improve a buyer’s first impression.
The five home improvement projects below specifically yield the highest returns on investment across the country.
Garage Door Replacement (97.5% ROI): Removal of an existing double-car garage door and installation of a new insulated door with windows.
- Average cost: $3,611
- Average resale value: $3,520
Window Replacement (Vinyl) (73.4% ROI): Replacement of 10 existing windows with new vinyl windows.
- Average cost: $16,802
- Average resale value: $12,332
Grand Entrance (Fiberglass) (71.9% ROI): Removal of an existing front entry door and replacement with a new fiberglass door and dual sidelights.
- Average cost: $8,994
- Average resale value: $6,469
Window Replacement (Wood) (70.8% ROI): Replacement of 10 existing windows with new wood windows.
- Average cost: $20,526
- Average resale value: $14,530
Bathroom Remodel (60.2% ROI): Triple the size of an existing bathroom and install a spacious shower with body sprays, a freestanding soaker tub and a stone countertop with two sinks.
- Average cost: $64,743
- Average resale value: $38,952
Making just the right upgrades are important as you consider improving your home’s resale value. Which home improvement project would you invest in for your home?
Happy home selling and buying!
For all the latest real estate news and home tips across the Tampa Bay area, please call us CENTURY 21 Alliance Realty at 352.686.0000.
No Comments