Seattle's Top 5 Remodeling Projects for R.O.I. May Surprise You...
While remodeling can be expensive, it’s also an investment into your home that can be recouped after the sale. The question is- what projects provide the best return upon resale?
According to the the Remodeling 2017 Cost vs. Value Report (www.costvsvalue.com), which compares the average cost of 29 popular remodeling projects with the value those projects retained at resale in 99 U.S. markets, these are Seattle’s remodeling projects that provide the best return. And the results could surprise you:
5. Deck Addition (wood)
JOB COST $12,343
RESALE VALUE $10,864
COST RECOUPED 88%
This job is adding a 16-by-20-foot deck using pressure-treated joists supported by 4x4 posts anchored to concrete piers. Install pressure-treated deck boards in a simple linear pattern. Include a built-in bench and planter of the same decking material. Include stairs, assuming three steps to grade. Provide a complete railing system using pressure-treated wood posts, railings, and balusters.
4. Entry Door Replacement (steel)
JOB COST: $1,480
RESALE VALUE: $1,355
COST RECOUPED: 91.5%
This consists of removing an existing entry door and replace it with a new 20-gauge steel unit, including clear dual-pane half-glass panel, jambs and aluminum threshold with composite stop. Also, replacing your existing lockset with new bored-lock in brass or antique-brass finish.
3. Minor Kitchen Remodel
JOB COST: $22,765
RESALE VALUE: $21,389
COST RECOUPED: 94%
In a functional but dated kitchen, this job consists of leaving cabinet boxes in place, but replacing fronts with new shaker-style wood panels and drawer fronts, including new hardware. Replace combination cooktop/oven range and slide in refrigerator with new energy-efficient models. Replace laminate countertops; install mid priced sink and faucet. Repaint trim, add wall covering and remove and replace resilient flooring.
2. Attic Insulation (fiberglass)
Job cost- $1,325
Resale Value- $1,275
Cost recouped: 96.2%
This job air seals an attic floor to address leakage from conditioned to unconditioned space. Then, it’s adding fiberglass loose fill insulation on top of the insulation (if present).
1. Manufactured Stone Veneer
Job cost: $7,936
Resale Value: 8,098
Cost recouped: 102%
This project replaces vinyl siding from the bottom third of the house’s street-facing facade with manufactured stone veneer.
Obviously the work you do will depend on what you need, how old your home is, and what’s truly outdated. You can download all 29 projects and their recouped cost for free at www.costvsvalue.com.
© 2017 Hanley Wood, LLC. Complete data from the Remodeling 2017 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
Austin Schneider | firstname.lastname@example.org | Realogics Sotheby's International Realty