Trying to decide where to best spend your home remodeling dollars? Or perhaps you are planning to sell your home and are considering some home renovations to spruce it up? Well there is good news! For the second consecutive year, according to Remodel Magazine’s 2014 Cost vs Value Remodel Report ( www.costvsvalue.com), data shows that the value of home remodeling is on the rise, meaning that home buyers are seeing more value in the home improvements sellers are making and therefore the sellers are recouping more of the home remodel cost.
For the Seattle area, Remodeling 2014 Cost vs. Value Report shows that the most cost effective mid-range home remodeling projects are:
Replace Front Entry Door (steel)
Minor Kitchen Remodel
Attic Bedroom Remodel
Wood Deck Addition
Wood Window Replacement
Install a new 20-guage steel front door with glass panel and new door lockset. Average cost recouped 104.1%
Keep functional kitchen floorplan but replace cabinet fronts, drawers and hardware. Install new countertops, sink, faucet and new energy-efficient appliances. Average cost recouped 97.9%
Replace existing windows with insulated vinyl windows. Trim exterior to match existing siding and trim on the home. Average cost recouped 86.9%
Convert unfinished attic space into a bedroom with small bathroom. Renovation might require a shed dormer and up to four new windows. Extend existing heating to attic space, upgrade electrical, add a closet, insulate and finish walls / ceiling, new carpet flooring and don’t forget to add a railing / baluster at the stairwell. Average cost recouped 85.3%
Install new painted steel garage door on galvanized steel tracks. Average cost recouped 85%
Add a new deck with custom built-in bench and a planter using pressure-treated wood. Also install a new deck railing using wood. Average cost recouped 83.7% (We found it interesting that cost recouped on wood decking was higher than on composite decking, which only saw a 77% recoup).
Update kitchen with wood custom cabinets, add a kitchen island and new countertops. Install new energy efficient appliances, and custom lighting. Paint walls, trim & ceiling. Average cost recouped 83.4%
Replace existing windows with insulated wood windows exterior clad in vinyl or aluminum. Trim exterior to match existing siding and trim on the home. Average cost recouped 82.3%
Finish the lower level of your home to create an entertainment area with wet bar and a bathroom. Average cost recouped 81.2%
Carter Construction, Inc. is an experienced, licensed and bonded general contractor / remodeling contractor that can provide you with a detailed quote on any of these home remodel projects.
Remodel Magazine compiles its data in cooperation with National Association of Realtors and RemodelMAX, a publisher of estimating tools for remodelers. © 2014 Hanley Wood, LLC. Complete data from the Remodeling 2014 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.