Traditional Entry by West Palm Beach Paint & Wall Coverings D’Avco Painting Contractors Inc.
Just replacing that front door may offer some of the biggest bang for a remodelers’ buck, according to the 2014 Cost vs. Value Report. It’s one of the least expensive remodeling jobs and offers the potential of a 96.6 percent return on investment at resale – the highest of 35 remodeling projects recently analyzed. Front door replacement has topped the Cost vs. Value report since the first survey in 2009.
Remodeling Magazine, in conjunction with REALTOR® Magazine, each year takes a look at some of the most popular remodeling projects and gauges how well the projects retain their value at resale.
For mid-range projects, here are projects that retain their value by the highest rates, according to national averages:
1. Entry door replacement (steel)
Estimated job cost: $1,162
Estimated resale value: $1,122
Cost recouped: 96.6%
2. Deck addition (wood)
Estimated job cost: $9,539
Estimated resale value: $8,334
Cost recouped: 87.4%
3. Attic bedroom
Estimated job cost: $49,438
Estimated resale value: $41,656
Cost recouped: 84.3%
4. Garage door replacement
Estimated job cost: $1,534
Estimated resale value: $1,283
Cost recouped: 83.7%
5. Minor kitchen remodel
Estimated job cost: $18,856
Estimated resale value: $15,585
Cost recouped: 82.7%
View more remodeling projects that offer some of the biggest paybacks in REALTOR® Magazine’s feature article, “2013-14 Cost vs. Value: Remodeling Pays Off Big Time.” Also view HouseLogic’s slideshow of Best Bets for Adding Value to Your Home in 2014.
By Melissa Dittmann Tracey, REALTOR® Magazine