Your home is more than just the roof over your head. It’s the place you return to after a long day at work, and it’s where you may decide to start and raise a family. Because of this, it’s especially important to make sure that it fills you with both joy and contentment when you step through the front door.
This is why many of us will choose to take on a home remodeling project at some point in our homeownership journey. However, some projects do come with a better return on investment (ROI). Fortunately, all of this information has already been collated for you, and this data from the Remodeling Cost vs. Value Report for 2022 will give you a better idea as to which projects to undertake – in addition to the ones you might be better off avoiding completely.
Garage Door Replacement
A garage door replacement can do wonders for a home remodel without exhausting too many resources. At 92.1%, it offers a fairly reliable way of recouping your investment. To begin with, you can replace the existing 16×7 garage door with a new four-section garage door on newly installed galvanized steel tracks. Given the motorized opener is in a good condition, you can retain it to save more money.
The next thing you want to make sure of is to place new thermal seals between the panels to make them pick-resistant. When it comes to the windows in the top panel, ½-inch insulated glass is the industry standard. These will be supported by hinges made from galvanized steel and ball-bearing urethane rollers.
Manufactured Stone Veneer
Replacing existing vinyl siding is one of the least expensive ways to increase the face value of your house. Especially when you are getting a 92.1% return on your investment. The easiest way to do this would be to replace the existing siding with a manufactured stone veneer that includes 36 feet of sills, 40 feet of corners, and one address block. Start by removing the 300-sq-ft band of existing vinyl from the bottom third of the street-facing frontage.
The installation will most likely include two individual layers of water-resistant material laid over bare sheathing, corrosion-resistant piping and fasteners, and a standard 1/2 -inch mortar scratch coat. For the archway on the entry side, you can go with an 8×10 keystone and a soldier course of flat blocks on both sides.
Minor Kitchen Remodel (Midrange)
A kitchen remodel offers many opportunities for you to recoup your investment if the current cabinetry has good bones. At 77.6%, the return In most cases is fairly reasonable, given the influence, it can have on potential buyers. You can leave the cabinet sections and drawers as it is and replace only the fronts with shaker-style panels. You can also install new hardware to make sure everything looks and feels squeaky clean.
The most pressing components of a kitchen are the cooktop/oven and refrigerator. By replacing these with the latest models, your chances of securing a high bid are increased drastically. To accentuate the aesthetics of your kitchen, replace the countertops and install a mid-tier sink and faucet. For the final touch, repaint the walls, trim, and ceiling, so every element of your kitchen resonates well with the viewer.
Siding Replacement (Fiber-Cement)
At 76.7%, fiber replacement has a slightly higher rate of return compared to vinyl. If you are looking to strengthen the foundation of your house and boost curb appeal, this is the easiest way to approach it. The process begins by removing approximately 1,250 square feet of existing siding and replacing it with a fiber-cement siding.
Amongst all the options for siding replacement, fiber-cement has proven to be the most reliable and inexpensive alternative. Make sure that it is factory primed and that the installation process follows the specifications laid out by the manufacturer. You can include factory trim at all apertures and corners to ensure every section flows harmoniously.
Siding Replacement (Vinyl)
When it comes to siding replacement, vinyl is the next best option for fiber-cement. At 63.6% return on investment, this is another great opportunity to boost the overall value of your house by giving buyers a good first impression. Many people prefer them these days as they come in a variety of colors, however, they are not as durable as some other options on the market.
Start with replacing 1,250 square feet of previously installed siding with vinyl siding. Make sure everything is laid down according to the specification of the manufacturer to avoid any accidents or damage. Finally, including factory trim at openings and edges to give the frame a pristine look.
Window Replacement (Wood)
Although vinyl window replacement tends to be less expensive than wood, it eventually boils down to the personal preference of homeowners. They offer a contemporary look and design, which quickly become a staple of modern suburbia. Buyers might think of going with wooden windows due to thermal isolation qualities but for homeowners, they can also provide a 61.2% return on investment during the sale.
To begin with, replace 10 previously installed 3×5 foot double-hung windows with insulated and simulated-divided-light wood windows. For the interior finish, stained hardwood can do wonders as it looks pristine and organically blends with the rest of the environment. When it comes to the exterior finish, you can go with a lush custom-tailored aluminum cladding.
Roofing Replacement (Asphalt Shingles)
When it comes to protecting your house from natural elements, the roof plays a critical role. Additionally, it contributes a lot to the overall face value of the house with a substantial return on investment (60.3%) during the sale. When replacing the roof, start by stripping off and disposing of the existing roof until you reach the wood sheathing. Then you can proceed to install fiberglass asphalt shingles with 30 lb felt underlayment.
Make sure to use galvanized drip edges and mill-finish aluminum flashing to secure the structure. Finally, you can go ahead and place two average-size flashlights at the appropriate location. Apply custom cap treatment at the vented bridge to disperse the pressure optimally on the piles below.
There are many variables to consider when selling a house besides the rate of return. Based on where your house sits on the trend scale and your budget, devise a goal that you can accomplish without turning to unsustainable debt. If your decision revolves around the resale value alone, it might not yield you the best results or buyers.