Now that the weather is beginning to warm up, it’s an opportune time to get going on those spring remodeling projects! Some TLC for your home may be just what it needs for a fresh feel and a step toward retaining its resale value.
1. Garage Door Replacement
Your existing garage door may have dents and scratches, the paint may be wearing, or you might find it’s just not as glimmering as the garage door you remember when you first purchased your home. Removing your existing 16×7-foot garage door and tracks and replacing them with a fresh door and new galvanized steel tracks may cost you $1,500 to $2,700, depending on how upscale your choice of a door may be, but this project averages a 76% cost-retention rate.
2. Minor Kitchen Remodel
The kitchen is one place to make improvements to become more energy efficient. Replacing a wall oven and cooktop with energy-efficient models will not only improve the visual appeal of your home, but will also save you money in the long run on your energy bills. Installing a mid-priced sink and faucet, replacing laminate countertops and trim, repainting, replacing cabinet doors and removing and replacing flooring may cost around $18,500, but also holds a high cost-retention rate of about 75% when you choose to resell.
3. Roofing Replacement
Replacing a worn roof will not only increase the curb appeal of your home, but will also affect your energy efficiency. Disposing of your old roof and installing new fiberglass asphalt shingles with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing can cost anywhere from $3,500 to $9,000, depending on area, design of the roof, size of the home and cost of labor, but you will recoup about 63% of those costs in the value of your home when you sell.
4. Wood Deck Addition
A 16-by-20-foot wood deck addition using pressure-treated joists supported by 4×4 posts anchored to concrete piers will run about $9,000 for the renovation. Include a bench and/or planter of the same wood material for a pleasing aesthetic. Summer lunch or dinner meals or an afternoon of grilling will be thoroughly enjoyed on your new addition. When you choose to sell, this remodeling project will retain a value around 77% of its cost.
5. Entry Door Replacement
A new 20-gauge steel unit, including jambs and an aluminum threshold with a composite stop can cost about $1,100. The fresh look of a new door adds to the home’s curb appeal as well as increases light in the entry way, if a glass or half-glass panel is selected. This project has a high cost-retention rate of about 86%.
The value of a project is always difficult to predict. The factors that affect home values differ for each property, and resale value is something that every homeowner must take into consideration before they remodel. Mid-range renovations and projects may be the ticket to meeting your immediate needs while also keeping in mind long term decisions and the ideas of prospective buyers in the future.
What remodeling projects are you tackling this spring?