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A remodeling project around your home may sound like a good idea. However, some projects are a better investment than others. According to the Remodeling Magazine’s 2015 Cost vs. Value report, the following four projects will make the greatest percentage impact on your home’s value:
1. A new roof. Replacing your roof is the #1 best home renovation project. A new roof consists of removing the existing roof, installing new shingles with underlayment, galvanized drips edges and trim and more. A new roof will increase the value of your home, as buyers want to purchase a home that is safe and up-to-date.
2. Garage door. A garage door can make a powerful statement, but in Wisconsin, it helps keep our cars out of the weather elements. Most buyers won’t look at a home if it doesn’t have a garage.
3. Entry door. A new entry door has the highest resale rating. It increases your home’s curb appeal, but most importantly it helps keep your home safe. This project includes a new door, jambs, threshold and new locks.
4. Siding replacement. New siding and trim can increase your home’s curb appeal, specifically white siding. New siding can also increase home resale value, improve weatherproofing and energy efficiency.
The following four projects are on the opt-out list for 2015, according to the Remodeling Magazine’s 2015 Cost vs. Value report:
1. Back-up generator. Popular in areas that affected the most by hurricanes, this is one project to avoid.
2. Second-story addition. Adding a second-story addition used to be very popular — but by the end of 2014, it dropped 11% in the cost vs. value ratio.
3. Home-office remodel. According to Remodeling Magazine, converting an extra bedroom into a home office decreases your home’s value. Buyers want to use bedroom space, and may not want a home office.
4. Sunroom. A sunroom is a matter of preference, and some buyers will see it as a maintenance nightmare.
These projects are worthy, given the right home and the right condition.
If you want to start a remodeling project, contact your Shorewest, REALTOR for the best contractors and more.
Tags: current housing market, home improvement, Housing Market, living in milwaukee, Milwaukee, milwaukee lifestyle, real estate advice, real estate market, shorewest, Shorewest Realtors, Wisconsin
Categories: Home Improvement
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