According to Remodeling Magazine’s 2010-2011 Remodeling Cost vs. Value Report, nine out of the top 10 most cost-effective projects (based on value recouped) are exterior replacement projects. Here are the four most cost-effective exterior replacement projects:
1. Steel entry door replacement. This project returned the most money, with an estimated 102.1 percent of cost recouped when the Santa Cruz homes were resold. It’s the only project in this year’s report that is expected to return more than the cost.
2. Midrange garage door replacement. This is the first year this project ranked high enough to make it into the report. It’s expected to recoup 89.9 percent of costs. According to the report, a “midrange” price for a garage door replacement is about $1,200.
3. Siding replacement. This project is expected to return more than 70 percent of costs. The most cost-effective siding project was upscale fiber-cement siding replacement, recouping 80 percent of costs.
4. Window replacement. This project ranked the same as siding replacement with a return of more than 70 percent of costs. Covered, upscale vinyl window replacements were expected to recoup the most with a 72.6 percent return upon resale of Santa Cruz homes.
According to the 2010-2011 Remodeling Cost vs. Value Report, replacement projects usually outperform remodel and addition projects in resale value because they are among the least expensive and contribute to curb appeal.
Since resale value can vary by region, it's smart for owners of Santa Cruz homes to work with a Santa Cruz real estate agent through the remodeling and improvement process. An agent can provide insight into projects in his or her neighborhoods that will recoup the most when the owners are ready to sell.
Want help identifying the improvement projects that will recoup the most value when you sell your home? Give me a call today at 831-662-6522 or email me at Laure@LaurenSpencer.com.
For more information, please visit my website at www.MySantaCruzRealEstate.com.