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WHAT TYPE OF RETURN CAN YOU EXPECT FROM YOUR REMODEL ROI

WHAT TYPE OF RETURN CAN YOU EXPECT FROM YOUR REMODEL ROI

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When getting ready to remodel your home, or if  making improvements in hopes of being competitive with area homes when you sell, take a moment and look as this guide so that you can best decide what improvements will give you your best return, (ROI).  Sometimes simple improvements, dollar for dollar, can give as much return or more than larger more costly remodels.   As times change, what was once desirable to buyers, and sought after, is no longer as important and instead the focus is shifted to new innovations and popular trends.


Before you make changes, find out what is sought after in your area.  What are buyers looking for, and what are they willing to pay for. Don't waste your dollars on projects that will be of little interest or importance.



By and large, homeowners can expect to reap the highest returns on projects that cost relatively less, according to REMODELING magazine’s 2016 Cost vs. Value Report.


On a national scale, the top five projects with the greatest return on investment (ROI) in the report’s “midrange” cost category are:


Attic Insulation (Fiberglass) (116.9% ROI)
Average Cost: $1,268
Average Resale Value: $1,482


Manufactured Stone Veneer (92.9% ROI)
Average Cost: $7,519
Average Resale Value: $6,988


Garage Door Replacement (91.5% ROI)
Average Cost: $1,652
Average Resale Value: $1,512


Entry Door Replacement (Steel) (91.1% ROI)
Average Cost: $1,335
Average Resale Value: $1,217


Minor Kitchen Remodel (83.1% ROI)
Average Cost: $20,122
Average Resale Value: $16,716


On a national scale, the top five projects with the greatest ROI in the report’s “upscale” cost category are:



Garage Door Replacement (90.1% ROI)
Average Cost: $3,140
Average Resale Value: $2,830


Siding Replacement (Fiber-Cement) (78.1% ROI)
Average Cost: $14,520
Average Resale Value: $11,342


Window Replacement (Vinyl) (73.3% ROI)
Average Cost: $14,725
Average Resale Value: $10,794


Window Replacement (Wood) (72.1% ROI)
Average Cost: $18,087
Average Resale Value: $13,050


Grand Entrance (Fiberglass) (69.6% ROI)
Average Cost: $7,971
Average Resale Value: $5,545



At the other end of the spectrum are projects with the lowest returns on investment—improvements generally not in demand by the market.


On a national scale, the five projects with the lowest ROI in the “midrange” cost category are:



Bathroom Addition (56.2% ROI)
Average Cost: $42,233
Average Resale Value: $23,727


Backup Power Generator (59.4% ROI)
Average Cost: $12,712
Average Resale Value: $7,556


Master Suite Addition (64.1% ROI)
Average Cost: $115,810
Average Resale Value: $74,224


Deck Addition (Composite) (64.4% ROI)
Average Cost: $16,798
Average Resale Value: $10,819


Major Kitchen Remodel (64.9% ROI)
Average Cost: $59,999
Average Resale Value: $38,938


On a national scale, the five projects with the lowest ROI in the “upscale” cost category are:


Bathroom Addition (56.7% ROI)
Average Cost: $79,380
Average Resale Value: $45,006


Master Suite Addition (57.2% ROI)
Average Cost: $245,474
Average Resale Value: $140,448


Bathroom Remodel (57.5% ROI)
Average Cost: $57,411
Average Resale Value: $32,998


Deck Addition (Composite) (57.7% ROI)
Average Cost: $37,943
Average Resale Value: $21,877


Major Kitchen Remodel (61.5% ROI)
Average Cost: $119,909
Average Resale Value: $73,707


On a national scale, the top five projects with the greatest return on investment (ROI) in the report’s “midrange” cost category are:


Attic Insulation (Fiberglass) (116.9% ROI)
Average Cost: $1,268
Average Resale Value: $1,482


Manufactured Stone Veneer (92.9% ROI)
Average Cost: $7,519
Average Resale Value: $6,988


Garage Door Replacement (91.5% ROI)
Average Cost: $1,652
Average Resale Value: $1,512


Entry Door Replacement (Steel) (91.1% ROI)
Average Cost: $1,335
Average Resale Value: $1,217


Minor Kitchen Remodel (83.1% ROI)
Average Cost: $20,122
Average Resale Value: $16,716


On a national scale, the top five projects with the greatest ROI in the report’s “upscale” cost category are:


Garage Door Replacement (90.1% ROI)
Average Cost: $3,140
Average Resale Value: $2,830


Siding Replacement (Fiber-Cement) (78.1% ROI)
Average Cost: $14,520
Average Resale Value: $11,342


Window Replacement (Vinyl) (73.3% ROI)
Average Cost: $14,725
Average Resale Value: $10,794


Window Replacement (Wood) (72.1% ROI)
Average Cost: $18,087
Average Resale Value: $13,050


Grand Entrance (Fiberglass) (69.6% ROI)
Average Cost: $7,971
Average Resale Value: $5,545




At the other end of the spectrum are projects with the lowest returns on investment—improvements generally not in demand by the market.


On a national scale, the five projects with the lowest ROI in the “midrange” cost category are:



Bathroom Addition (56.2% ROI)
Average Cost: $42,233
Average Resale Value: $23,727


Backup Power Generator (59.4% ROI)
Average Cost: $12,712
Average Resale Value: $7,556


Master Suite Addition (64.1% ROI)
Average Cost: $115,810
Average Resale Value: $74,224


Deck Addition (Composite) (64.4% ROI)
Average Cost: $16,798
Average Resale Value: $10,819


Major Kitchen Remodel (64.9% ROI)
Average Cost: $59,999
Average Resale Value: $38,938


On a national scale, the five projects with the lowest ROI in the “upscale” cost category are:


Bathroom Addition (56.7% ROI)
Average Cost: $79,380
Average Resale Value: $45,006


Master Suite Addition (57.2% ROI)
Average Cost: $245,474
Average Resale Value: $140,448


Bathroom Remodel (57.5% ROI)
Average Cost: $57,411
Average Resale Value: $32,998


Deck Addition (Composite) (57.7% ROI)
Average Cost: $37,943
Average Resale Value: $21,877


Major Kitchen Remodel (61.5% ROI)
Average Cost: $119,909
Average Resale Value: $73,703


EXIT First Realty would like you to consider this information  when determining where best to spend money when trying to increase the value of your property for sale.  If you have questions, we are able to help you with all of your real estate needs and would be glad to assist you in your  transition.

Bowie MD Real Estate - Listings for sale and Real Estate Services in Bowie Maryland and surrounding areas. You now have free access to Bowie, MD, Ultimate Real Estate Search Engine. Google or call us today.  EXIT First Realty  301-352-8100


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Dated: January 26th 2016
Views: 326
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