The 2017 Remodeling Cost vs. Value report is out and exterior projects remain among the most valuable updates. Homeowners that are soon to be sellers, please take note because these will improve a home’s curb appeal – a buyer’s first impression of a home.
Here’s a quick overview of the best projects that retain value:
Fiberglass attic insulation – It gets cold in Wisconsin so insulation is important. A job costing $1300 will retain about 79% of the expense at resale
Steel entry door. A little more than $1000 can make a great impression as a clean, bright, energy saving welcome into a home. What better way to make a great first impression than investing in the entryway buyers will first access your home during a showing. About 77% of the expense of the door is recouped during resale.
Wood decks. 56% of money spent recouped during a sale, on average.
Manufactured stone veneer– 78% of costs recouped at resale.
Exterior siding. 65% recouped.
New garage doors – 66% recouped.
Replacement windows – 65%
Inside the home projects also increase value/recoup costs
Minor kitchen remodel – with a cost of around $20,000 will recoup approximately 72% of its cost. Think new flooring, countertops, lighting, cabinet hardware and perhaps new appliances to refresh the most used room in the house without a big price tag.
Bathroom addition – the number of baths is generally very important. The high expense of approximately $45,000 is difficult to recoup – only around 45%
Keeping your home updated through the years makes preparing to sell much easier. If you are considering selling, take a tour of some open houses in your area to see how your neighbors have updated their home and choose what to take on to update to compete.
You can also talk to your local First Weber Realtor to see what home trends are popular. By viewing and showing many, many properties in your community, these agents really have a handle on what buyers like and can offer you some good advice.
If you need assistance finding contractors for home improvement/remodeling jobs, feel free to contact First Weber’s Concierge Desk for recommendations in your area.
First Weber sells real estate throughout Wisconsin Metro Milwaukee and Southeastern WI, South Central Wisconsin, Southwest Wisconsin, Western Wisconsin, Central Wisconsin, Northeast Wisconsin and Wisconsin’s great Northwoods. You can start searching for Wisconsin real estate and Wisconsin real estate agents at firstweber.com
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