Which Remodeling Project is Worth the Investment?
Home improvement projects will not only make your space feel brand new but will help add value to the home for when you decide to sell it later. But which remodeling projects are actually worth the investment?
In Remodeling Magazine’s 2020 Cost vs. Value Report, they provide insight into which projects will give you the most bang for your buck. See the top five remodeling projects below:
Manufactured Stone Veneer
Replacing vinyl siding with manufactured stone veneer took the top spot in the year’s survey. With an average cost of $9,357, you’re expected to recoup 95.6% of that price.
Garage Door Replacement
A new garage door not only has a lifetime warranty but is also foam insulated and made with high-tensile-strength steel. This project will cost an estimated $3,695, with a 94.5% return on investment.
Minor Kitchen Remodel | Midrange
By replacing your cabinet fronts, countertops, flooring and stovetop with new midrange options you could recoup 77.6% off an average $23,452 price.
Siding Replacement | Fiber-Cement
New fiber-cement siding rose in popularity this year with an average price of $17,008 with the chance of recouping 77.6% of that cost.
Siding Replacement | Vinyl
A vinyl siding replacement project rounds out the top five with this project costing an average of $14,359 with a 74.7% return on investment.
Read the full Cost vs. Value report here. You can also find data based on the region you live in, including the Middle Atlantic (PA, NJ, NY), the South Atlantic (MD, DE, VA, DC, W. VA, NC, SC, GA, FL), and other areas of the country.
Marnie Schaar & Associates Long & Foster Real Estate are licensed Virginia Real Estate Marnie@LNF.com · Cell: 703.509.3107 | Margo@LNF.com · Cell:571.839.6009
2100 Reston Pkwy Suite 102 · Reston, VA 20190