If you live in the Raleigh area and have been thinking about adding value to your home through renovations or remodeling (especially if you’re planning on selling), here’s some information to help you decide on home improvement projects that can give you the best bang for your buck.
From replacing doors to bathroom remodels – here are some ideas to consider.
10 remodeling projects with the best return on investment in Raleigh:
The Remodeling 2020 Cost vs. Value Report looks at 21 example home improvement/remodeling projects, and by using a combination of industry data and realtor expertise, reports how much each one was worth at resale.
The ten home improvement projects that have the best return on investment in 2020 (i.e. add the most value at resale as a percentage of cost) in Raleigh are:
- Manufactured Stone Veneer
- Vinyl Siding Replacement
- Fiber-cement Siding Replacement
- Garage Door Replacement
- Wooden Deck Addition
- Vinyl Window Replacement
- Composite Deck Addition
- Minor Kitchen Remodel (using midrange quality materials)
- Asphalt Single Roof Replacement
- Entry Door Replacement
- Manufactured Stone Veneer
- Bathroom Remodel (using “universal design” quality materials)
© 2020 Hanley Wood Media Inc. Complete data from the Remodeling 2020 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
If we take the average of the costs recouped for the individual projects under the same category (such as the midrange, upscale, and universal design bathroom remodels), the list of top ten project types break down as follows:
- Manufactured Stone Veneer
- Siding Replacement
- Garage Door Replacement
- Deck Addition
- Minor Kitchen Remodel
- Window Replacement
- Roof Replacement
- Bathroom Remodel
- Entry Door Replacement
- Bathroom Addition
© 2020 Hanley Wood Media Inc. Complete data from the Remodeling 2020 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
Some of this information may be surprising…
But remember, this isn’t a ranking of the projects that add the most value (if it was, adding a new addition would always be first).
Instead, it’s ranking home improvement projects by how much of the cost you can recoup when selling your home.
You can learn more about these projects, such as the scope behind the work, and the dollar values estimated at www.costvsvalue.com.
