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Remodeling for High ROI

September 24th, 2020 by tisner


Remodeling can be serious business, especially if you’ve got several pet projects on your list and a limited budget with which to work. It can be tempting to go straight to the items that you find the most important, but if you’re considering reselling your home in the not too distant future, the return on your remodeling investment is really the thing to watch. Luckily, Remodeling Magazine has been tracking remodeling trends and returns for the US market since 2002 and has amassed a great deal of data on which projects you should focus your money on if you’re concerned about how well it will return.

A Note on Cost Return Versus Resellability

It’s important to note that there is a distinction between items that will be reflected in your home’s value and those which will help your home sell. These aren’t always the same thing. For example, you might find that adding a pool is a lot of fun and that people are drawn to homes with pools in your area, but a pool doesn’t necessarily increase the amount of money you’ll be offered for your home. On the flip side of that, new kitchen cabinets almost always both increase value and help make your home easier to resell.

This Year’s Top Remodeling Items for Returning Your Dollars

Remodeling Magazine’s 2020 numbers are in, and much of what they have to say isn’t too surprising. Over the last several years, trends for return on your investment dollars have been mostly holding steady. Consider these items if you’re planning a remodel before you sell your home:

  1. Manufactured Stone Veneer. This year it’s number one on the list, though it was ranked second in both 2019 and 2018 for percentage of cost recovered. At an estimated $9,357 for the average stone veneer project, you’ll see an average of 95.6 percent return.
  2. Garage Door Replacement. Bumped from number one for 2018 and 2019 to a still respectable number two, garage doors will provide an average of 94.50 percent return for your average $3,695 project. Garage doors can change the entire face of your home, so they’re still a great choice for a quick facelift if you don’t have stone veneer money this year.
  3. Kitchen Remodeling. It’s no surprise that a nice kitchen can pay for itself, but you have to be very careful in how you spend your money. A minor, mid range kitchen remodel might include small updates like replacing the drawer, door fronts, and hardware on cabinets, as well as new appliances, flooring, and sink and faucet, plus a fresh coat of paint. That’s estimated to cost about $23,452 this year, but the return on it will be about 77.6 percent. This is also one of those items that will absolutely push a buyer to choose your home over another, so there’s value beyond simple dollars and cents.
  4. Siding Replacement. In the past, Remodeling Magazine has grouped all major siding types (excluding stone veneer) together, but this year it has separated them into two categories: fiber-cement and vinyl. Both are popular, durable choices for a home, and both return quite well. Fiber-cement should recoup about 77.6 percent of the $17,008 bill; vinyl returns about 74.7 percent of an estimated $14,359.
  5. Vinyl Replacement Windows. Replacement windows can be a huge selling feature, especially if your home is in a neighborhood where a lot of houses still have their original windows. They can be ordered with a myriad of design elements to make them just as charming as the windows you’ll be replacing, down to the tiniest details. You’ll be looking at a cost of around $17,641 for the project, but you’ll recover about 72.3% of that when you sell your home. As a bonus, the new homebuyers will have plenty of incentive to choose your home, since energy efficiency is still a major decision point.

Ready to Remodel? Not Sure How to Start?

Don’t sweat it, you can connect with an army of professions through HomeKeepr. HomeKeepr has your back. Login today to find home pros ready to help you get the most out of your remodeling budget.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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By: Homekeepr, David Weinstein 

Before You Remodel…

January 10th, 2018 by tisner

Depending on whether you are planning to sell your home in the next year or if you are in your forever home, remodeling is a great way to get what you want out of your home, or what buyers want.  There are things to consider before you jump into remodeling. 

  • Decide on a budget, and how you’ll pay for the upgrade.  Consider hiring a financial planner who can help you choose which way is best. 
  • If you decide to do this project yourself, and you’re not in the construction business, plan on taking much longer than a professional.  Be realistic about your skills and hire help if you need it. 
  • Acquiring an architect or designer is a good idea if you’re making major changes.  You don’t want to run into major structural or electrical issues and not know what to do. 
  • Think about how long you want to stay in your home before you invest in big ticket items, like a six-burner range for the kitchen, or expensive hardwood flooring throughout the house.  If your sole plan is to make money from a sale, or if you want and can afford the upgrades, go ahead. But if you’re not going to enjoy those items while you’re living there, consider a simple refurbishing or using what you have if it’s in good working order and won’t look out of place. 
  • When looking for a contractor, price isn’t necessarily the important thing.  Ask for references, check their license numbers, and call the former clients and ask to see the work that was done, either in photos or in person. The research will be worth it in the end.  
  • Once you hire your contractor, start getting your paperwork in order.  The contractor has their own responsibilities, and the homeowner has to take care of other items–check this list from realtor.com to see who is responsible for what. 
  • Planning a timeline with your contractor is especially important, and make sure you leave room for possible unexpected issues. 
  • Sit down with your family and figure out logistics, especially if you’re remodeling the kitchen or one of the bathrooms in your home.  Remodeling can cause a lot of stress, but if everyone knows what to do before it all happens, things can flow better. 
  • As with moving, clean out the room before the renovation, giving away, selling or throwing out what you haven’t used in months.  Wrap and store any items you’re keeping in a spare room. 
  • Before the construction team comes in to begin the project, sit down with your contractor to set location boundaries for the crew and your family, along with other logistics. The crew doesn’t want your children playing around with tools, and you don’t want your good bathroom towels used for grimy hands.  Everyone needs to know what is okay, and what isn’t.   

A home remodel is a big undertaking; watching renovation shows on television can give the idea that everything goes off without a hitch.  It takes planning, communication and good all-around management to make the process go smoothly, even if you hit a few bumps along the way.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Photo credit: www.river105.com

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