Choosing the Right Remodel
Maybe you’ve been staring at your home’s pastel pink shower tiles, longing for the day they can be torn out and replaced with something more modern. Maybe you’re eyeing the unused attic and planning for the day it can be converted into better space. But before you break out the crow bar and sledge hammer, make sure the project you’re starting will end up paying off. Here’s a look at some of the best and worst remodeling projects for increasing your home’s resale value according to the Cost vs. Value Report*.
|Best Return||Average Cost||Average Resale Value||Cost Recouped|
|Manufactured Stone Veneer||$9,357||$8,943||95.6%|
|Garage Door Replacement||$3,695||$3,491||94.5%|
|Minor Midrange Kitchen Remodel||$23,452||$18,206||77.6%|
|Vinyl Siding Replacement||$14,359||$10,371||74.7%|
|Vinyl Window Replacement||$17,641||$12,761||72.3%|
|Worst Return||Average Cost||Average Resale Value||Cost Recouped|
|Upscale Master Suite Addition||$282,062||$145,486||51.6%|
|Fiberglass Grand Entrance||$9,254||$4,930||53.3%|
|Major Upscale Kitchen Remodel||$135,547||$72,993||53.9%|
|Midrange Bathroom Addition||$49,598||$26,807||54.0%|
|Upscale Bathroom Addition||$91,287||$49,961||54.7%|
Keep in mind, the true value of your remodel depends on your family’s needs and personal situation. Contact Centra to help you get started on your dream home remodel today. Home equity loans are a great low-cost way to fund your home’s upgrades.
*To view the full report and see where your potential projects land, visit http://www.remodeling.hw.net/cost-vs-value/2020/