Replacing Home Exteriors Can Be a Top Investment for Homeowners
January 4, 2012 - 286 views
The National Association of Realtors has released its 2011-12 Remodeling Cost vs. Value report, citing exterior renovation and improvement as one of the most cost and value savvy investments that homeowners can make. “Inexpensive exterior replacement projects are not only crucial to a home’s regular upkeep but are also expected to recoup close to 70 percent of costs,” said The Association’s president, Moe Veissi. “Specific exterior projects such as siding, window, and door replacements are part of regular home maintenance so many homeowners are already undertaking them. These projects also do not require expensive materials, and they have the added bonus of instantly adding curb appeal.”
Upgrading or remodeling can be a valuable contribution to every home, whether it be a small, charming cottage in Central Austin, midsize ranch home in the Sendera neighborhood, or an Austin luxury home.
Dozens of remodeling projects can be found at the National Association of Realtor’s website, HouseLogic.com, with an estimated recouped value of the project displayed alongside the cost of the project. The Cost vs. Value report indicated that exterior projects comprised seven of the top 10 most investment worthy projects.
Recommended improvement projects:
- An upscale fiber-cement siding replacement is the project expected to return the most money, with an estimated 78% of costs recouped.
- Foam-backed vinyl siding, expected to return 69.6% of costs.
- Upscale vinyl siding, expected to recoup 69.5% of costs.
- Steel entry door replacement is the least expensive enhancement project, costing little more than an average of $1,200 and expected to recoup 73% of costs.
- Upscale garage door replacement and midrange garage door replacement projects are expected to return more than 71% of costs.
- Window replacement using upscale vinyl can be expected to recoup 69.1% of costs.
The report compares construction costs with resale values for 35 remodeling projects that include additions, remodels, and replacements. NAR estimated that homeowners would recoup an average of 57.7% of their investment in the listed remodeling projects.
An Austin REALTOR® can provide quality advice on renovation projects for both current and prospective homeowners. Contact Regent Property Group to speak with a knowledgeable market professional or to find Austin homes for sale.
