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Home Improvements that Add to Your Home's Value

11:24 PM, Nov 8, 2011   |    comments
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JACKSONVILLE, Fla. -- A home is still a sound investment, but just because you spend $20,000 on a home improvement project, doesn't mean your home will be worth $20,000 more.

Remodeling magazine has researched which home improvement projects have the biggest pay-off. Here are my top 10 ways to get the most from your home improvement project.

Number 10:

If you have enough room in the attic, turn it into a bedroom. The cost is about $42,000, but you will recoup 68 percent or $29,000.

Number Nine:

You've always wanted a master suite addition. In Jacksonville, it will cost about $90,000, but you'll recoup 65 percent or nearly $60,000.

Number Eight:

Replacing the vinyl siding on your home will cost $9,500, but you can recoup 66.6 percent or $6,300.

Number Seven:

A minor kitchen remodel can also translate into a nice return. The average cost is about $20,000, but you will recoup 71 percent of your cost.

Number Six:

Replacing the windows with double panes will not only improve your efficiency, but you will recover 71 percent of your investment. The job cost about $9,000.

Number Five:

Replacing the front door is also a good investment. If it is a fiberglass replacement, you will recoup 73 percent of the cost. Installing a fiberglass door is about $3,000.

Number Four:

Adding that wood deck you have always wanted to your home also pays off. The cost: $9,000, but you will recoup 74 percent.

Number Three:

We all want the roof to last forever, but if it needs replacing this is also a good return on the investment. The average cost is about $17,000, but you will get back 75 percent of the investment in your home's value.

Number Two:

An average garage door will cost $1,000 to replace. It impacts your curb appeal and you will recoup 100 percent in value to your home.

Number One: The top home improvement that gives you a big return is a steel entry door replacement. It costs $990, but you recoup 490 percent or $4,800 in added value to your home.

A tip: Investing in a swimming pool is not among the top 10 because depending on the community, what you recoup on your investment is small, if not zero.

The 5 highest midrange home improvement projects for Jacksonville that will yield the highest return:

1. Entry Door Replacement (Steel) - Cost Recouped:  490.2%
2. Garage Door Replacement - Cost Recouped: 100.2%
3. Roofing Replacement - Cost Recouped: 75.5%
4. Deck Addition (wood) - Cost Recouped 74.5%
5. Entry Door Replacement (Fiberglass) - Cost Recouped 73.6%

The 5 lowest yield projects:

1. Home Office Remodel - Cost Recouped: 40.5%
2. Backup Power Generator - Cost Recouped:  47.1%
3. Sunroom Addition - Cost Recouped: 48.8%
4. Bathroom Addition - Cost Recouped: 48.7%
5. Bathroom Remodel - Cost Recouped: 52.8%         

 

Source: Remodeling Cost vs. Value Report for 2010-11             

MORE: Database to sort by neighborhood for which projects offer the most value.

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