By Melissa Dittmann Tracey, REALTOR(R) Magazine
Home owners are investing in their homes once again, according to recent industry surveys that point to a strong rebound taking hold in home remodeling. Home owners also may be seeing higher gains from some of these remodeling projects at resale, according to the most recent Cost vs. Value Report, which reviews the top remodeling projects that offer the highest returns at resale. The Cost vs. Value Report is conducted each year by Remodeling Magazine, in conjunction with REALTOR(R) Magazine.
So, which remodeling projects offer the potential for some of the biggest pay-backs at resale? The following mid-range remodeling jobs offer the highest returns, according to the 2013 Cost vs. Value Report.
1. Entry door replacement (steel)
Estimated job cost: $1,137
Return on investment at resale: 85.6%
2. Deck addition (wood)
Job cost: $9,327
ROI: 77.3%
3. Garage door replacement
Job cost: $1,496
ROI: 75.7%
4. Minor kitchen remodel
Job cost: $18,527
ROI: 75.4%
5. Window replacement (wood)
Job cost: $10,708
ROI: 73.3%
6. Attic bedroom
Job cost: $47,919
ROI: 72.9%
7. Siding replacement (vinyl)
Job cost: $11,192
ROI: 72.9%
8. Window replacement (vinyl)
Job cost: $9,770
ROI: 71.2%
9. Basement remodel
Job cost: $61,303
ROI: 70.3%
10. Major kitchen remodel
Job cost: $53,931
ROI: 68.9%
