Sell Real Estate

Remodeling that Pays Off

by Frank Smith Real Estate

There are many grandiose ideas we have when we purchase a home about what renovations that we dream about like steam showers, new cabinets, additions, granite counters, new landscaping, paint, deck, etc. As homeowners, we do these renovations for us but in the end we have to ask what remodeling actually pays off when we go to sell?

When it comes to selling, we can hope our new kitchen and fabulous bathroom will draw the buyers but we can’t forget the mechanics. According to Remodeling Magazine editor Sal Alfano, “Buyers want to take the basic systems for granted.” For example, if the furnace is not working or the roof is leaking, does it matter that the kitchen is fabulous? When basic maintenance is not taken care, this will reflect in selling price.

As the curiosity of what kind of return is best for what project, each year the Remodeling Magazine in conjunction with REALTORS Magazine releases a report on the findings of which remodeling projects pay off, “Cost vs Value Report”. The following are this year’s report of the top ten pay offs:

  1. Replacing the entry door with steel construction

    • Estimated Cost: $1137
    • Return on Investment: 85.6%

  2. Deck addition (wood)
    • Estimated cost: $9,327
    • ROI: 77.3%

  3. Garage Door Replacement
    • Estimated Cost: $1496
    • ROI: 75.7%

  4. Minor Kitchen remodel
    • Estimated Cost: $18,527
    • ROI: 75.4%

  5. Window Replacement (wood)
    • Estimated Cost: $10,708
    • ROI: 73.3%

  6. Attic Bedroom
    • Estimated Cost: $47,919
    • ROI: 72.9%

  7. Siding Replacement (vinyl)
    • Estimated Cost: $11,192
    • ROI: 72.9%

  8. Window Replacement (vinyl)
    • Estimated Cost: $9,770
    • ROI: 71.2%

  9. Basement remodel
    • Estimated Cost: $61,303
    • ROI: 70.3%

  10. Major Kitchen Remodel
    • Estimated Cost: $53,931
    • ROI: 68.9%

Notice the curbside appeal has the most return for your remodeling dollars with entry door, garage door, windows etc. We’re not sure why roofing did not make the top 10; however I know that this must be close.

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