Smaller Jobs Equal Greater ROI – Our Contractors In Lancaster PA Can Help!
Improving your home’s conditions certainly adds comfort and visual satisfaction, but it should also enhance the value of your home. Now, are you wondering which jobs add the most value to your home?
It may come as a surprise to you, but bigger remodeling projects may not return their full cost in price increases of the home. On the other hand, smaller jobs could return 100% or more of their cost.
While any home improvements should overall help you sell your home faster and for more money, when choosing which remodeling projects to do, you may need to decide depending on what’s more significant for resale, as opposed to what you and your family would personally prefer.
2015 Remodeling Cost vs. Value Report from Remodeling Magazine and the National Association of REALTORS® compared average cost for popular remodeling projects with the value those projects hold at resale in 102 U.S. markets.
The cost vs. value ratios are based on resale value as a percentage of construction costs, as well as surveys of Realtors and their opinions of value in their own markets.
When they are equal, the ratio is 100%; when cost is higher than value, the ratio is less than 100%; when value is higher than cost, the ratio is over 100%.
Here’s which type of home upgrades score big with buyers; in other words, projects that bring you best ROI (return on investment).
Three of the four projects that typically cost less than $5,000 for a professional home remodeler to complete ranked in the top five for cost recouped at resale.
Among the projects that cost more than $25,000 none ranked any better than 14th place.
The replacement jobs that are most visible and obvious – such as door, window, and siding projects, when potential buyers first view a house in person or online, generate a higher return than remodeling projects.
Also, there’s a rising trend that puts curb appeal high up the importance list, which is why siding jobs scored better than most.
For example, replacing the front door with a steel entry door returns more than 101.8% of its cost – which is great to know if you need a new door.
Looking at interior remodeling jobs, kitchen improvements still lead with nearly 20 percent return of value on resale.
A new project made it to the annual list this year – manufactured stone veneer, returning 100% of investment in 27 markets, ranking second among all projects with a cost-value return of 92.2%. Third place is upscale garage-door replacements, returning 100% in 17 markets, while midrange garage door replacement topped overall 88.4%.
Naturally, there are so many factors that will vary from home to home, and each sale is different in relation to the neighborhood, the quality of the work performed by your home remodeling company, and the individual buying the home.
Tastes and preferences are personal and vary among different people tremendously. So the improvements you get excited about may not seem as attractive to other people if you’re selling your property. Also, remodels should not look like an add-on or afterthought, rather flow within your home. Experienced and skilled contractors in Lancaster PA can certainly help you achieve that organic look of your home.
The Cost vs. Value analysis is done annually; it makes sense to follow it for shorter-term investments. And although small jobs deliver the biggest ROI, larger jobs will always be “in style” for different reasons.
So if you plan to be in your house for years, and let’s say your bathroom is totally outdated, it makes all the sense to give it a nice, healthy makeover. Or, your family just got bigger and your house just got too small; you love your house and moving is not an option, so adding a room, moving walls, finishing your basement, etc., will be a great solution for you.
No job is too big or too small for our Lancaster PA Handyman division at Home One Services. We even guarantee our work and your 100% satisfaction for every job we’ll perform for you.
Home One home remodeling Lancaster PA offers Free In Home Consultations in our primary service area and free phone consultations/estimates in our secondary service area.
Call us and see how we can make your home more beautiful and increase the value of your property: https://www.homeoneservices.com/
