If you’re wondering which home improvements will bring you the most return at resale, look no further than your own front door.
Projects that spiff up curb appeal were ranked most likely to return a homeowner’s investment in the 2010-11 Remodeling Cost vs. Value Report, an annual study co-sponsored by Remodeling Magazine and the National Association of REALTORS®.
The top ten include:
Steel front door – 102.1% ROI
Garage door replacement – 83.9%
Fiber cement siding replacement – 80.0%
Wood deck addition, minor kitchen remodel (tie) – 72.8%
Siding replacement – vinyl, Window replacement, vinyl (tie) – 72.4%
Attic bedroom remodel – 72.2%
Window replacement, wood – 71.6%
Basement remodel – 70.0%
Major kitchen remodel – 68.7%
Two-story addition – 65%
One reason exterior improvements are topping the list is that they’re relatively inexpensive, and therefore deliver more bang for the buck. That means a spiffy new front door at $1,200 can raise your curb appeal enough to help you sell your home faster.
Why? The outside encourages buyers to want to see inside.
So, will you make money with a front door and lose money on a new deck? Not at all.
The cost vs. value improvements are hypothetical. What the study attempts to do is apply numbers to the concept of demand. If you make a certain improvement to your home, only your local market can tell you whether or not you got your money’s worth.
Instead, think of the percentages outlined above as oddsmakers for each room or feature of your home. A front door won’t sell your home, but a new one could improve your chances of selling your home at a better price. For more information, visit www.costvsvalue.com.
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