Why do we keep fixing up and remodeling our homes? Naturally, we want the place where we live to be more comfortable and look nicer. Maintenance and upkeep will also help to preserve the value of the investment we have made in our home. But not all home improvements deliver the same value for homeowners. Some offer a better “return on investment” (ROI) than others.
Every year, Remodeling magazine conducts a nationwide “Cost vs. Value” study of home improvements. The goal of the study is to discover which renovation projects return the most value, as measured by the percentage of the cost of the project that might be recouped if the home was sold after the work was completed.
The latest Cost vs. Value study examined the return on investment delivered by a range of home renovations and improvements during the 2021 calendar year. Some of the results may surprise you. For example, the renovation with the top ROI of 93.8% was replacing your garage door.
In case your garage door is still in good shape, here are some other highlights of the national Cost vs. Value survey. These results may give you some ideas of which exterior home improvement projects you might want to undertake for your property.
- Siding Replacement with Fiber Cement Siding: 4%
- Window Replacement with Vinyl Windows: 6%
- Siding Replacement with Vinyl Siding: 3%
- Window Replacement with Wood Windows: 4%
- Entry Door Replacement with a Steel Door: 0%
- Roof Replacement with Asphalt Shingles: 7%
- Roof Replacement with Metal Roof: 1%
Of course, your results will almost certainly vary. The dollar value of any project depends on factors such as the quality of the materials used and the skill with which the work was done. Besides, unless you are planning to “flip” your home in the immediate future, the greatest value you can experience from a home improvement project is the satisfaction and enjoyment of having a home that is safer, more energy efficient, and more appealing to the eye.
Contact Allstar Construction for Exterior Remodeling in Fargo
Allstar Construction specializes in exterior remodeling for homes and commercial properties in the Fargo area. To learn more, contact us at (701) 315-8150.
