Upgrading Existing Space Is Your Best Bet For Recouping Cost
It pays to know which upgrades will deliver the best return when you sell your home. An annual remodeling report finds 4 basic replacements are likely your smartest choice.
Replacement projects included in the Cost vs. Value survey all cost less than $20,000 and most cost considerably less. They instantly enhance curb appeal, boosting a home’s marketability, and they require little maintenance once installed. A bonus: Most of these replacements qualify for a federal tax credit for energy efficiency (not included in Remodeling Magazine’s ROI calculations).
1. Replace the front door.
- The absolute best return on the money of any of the projects surveyed — 129% of cost — is gained by replacing a beat-up front door with a $1,200 steel-shell door filled with foam insulation.
- A new fiberglass door (more expensive, at $3,490) returns less, about 65%. (Fiberglass is the new chic building material because it’s rugged and durable, can be painted and will mimic almost any wood. Unlike wood, it doesn’t crack, warp or shrink and needs zero maintenance.)
- Spend about $7,500 on an entire new entrance, including a widened opening, a solid-core wood door and high-end glass, new lighting and better locks, and you’ll recoup 69%, on average.
2. Replace home siding
- Replacing old siding with a durable fiber-cement product ($13,287) recoups about 84% at resale.
- Use vinyl siding ($10,607) to get an 80% return.
- Foam-backed vinyl ($13,022) costs more and earns back less — roughly 79% — but it is much more efficient at insulating a home.
3. Replace windows. Three of the four window-replacement projects considered in the survey pay back about 77%:
- Wood-trimmed windows ($11,700).
- Lower-end vinyl windows ($10,728).
- Windows trimmed in higher-end vinyl ($13,862).
- The fourth project, higher-end wood-replacement windows ($17,816), has a return of about 72%. Fiberglass windows weren’t included in the study.
4. Replace the roofing: Spend $19,731 on new fiberglass asphalt shingles and you’re likely to recoup about 67% of the cost.
- A higher-end roof replacement using standing-seam metal ($37,359) pays back about 61% of the cost, agents told the survey.