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Each year US Remodelling magazine produces a cost vs. value report for nationwide and regional trends. The report gives us a look into which home remodelling projects will be worth the effort.
By Alexa Erickson
Where should you spend your reno dollars in 2020?
1. Garage door replacement
In US Remodelling magazine’s annual cost versus value report for nationwide and regional trends, replacing your garage door has taken over the top of the list, with a 98.3 percent cost recoupment.
The average cost of the job ran $3,470 nationally and the resale came in at $3,411.
Installing manufactured stone veneer comes in second on the list of home improvement projects that practically pay for themselves.
Taking a 300-square-foot band of existing vinyl siding from the bottom third of the front of your house and replacing it with manufactured stone veneer will cost around $8,211.
You’ll see a resale value of $7,986, recouping an impressive 97.1 percent.
Remodelling magazine reports that replacing your door with a steel entry door will cost $1,471, with a $1,344 resale value, resulting in a 91.3 percent recoupment.
Reported as the fourth best remodelling project for its value, a wood deck addition will cost you $10,950.
You’ll see a $9,065 resale value, so the recoupment comes in at 82.8 percent.
An outdoor “room,” continues to remain a desired home attribute, because it creates more living space without breaking the bank.
Adding an extension is a great way to increase both the value of a house and available living space, but sometimes it affects how adjacent areas can be used. Here’s how to install a wooden deck with ease.
5. Minor kitchen remodel
Minor kitchen updates can make a big difference when you go to sell your house.
While it will cost you $21,198, you’ll recoup $17,193 when you sell—that’s 81.1 percent.
“In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new shaker-style wood panels and drawer fronts, including new hardware,” Remodelling magazine recommends.
Other updates to consider include replacing major appliances with more energy-efficient models, and removing and replacing resilient flooring.
To replace 1,250-square-feet of existing siding with new siding, including factory trim at all openings and corners, you can expect to pay $15,072.
The resale value is $11,554, so the recoupment is 76.7 percent.
Plus, new siding increases curb appeal.
Whether your goal is to add value to your home to sell, or you’re just looking to get your home entertainment-ready for summer, there are three DIY projects you can complete in a weekend that will greatly increase the curb appeal of your home.
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Where should you spend your reno dollars in 2020?
7. Vinyl window replacement
According to Remodelling magazine, you should “replace 10 existing 3 x 5-foot double-hung windows with insulated, low-E, simulated-divided-lite vinyl windows. Simulated wood-grain interior finish; custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.”
The project will cost you $15,955, you’ll see a resale value of $11,855, with the recoupment coming in at 74.3 percent.
8. Universal design bathroom
The bathroom may be far from the first thing that people see when coming into your home, but it’s a very important room!
The more spacious and updated, the better – especially for the elderly.
Universal design includes accommodating a wheelchair and adding safety features like grab bars in convenient places.
A full update will cost you $16,393. You’ll see a $11,581 resale value, with a recoupment of 70.6 percent.
9. Bathroom remodel
A midrange bathroom remodel will cost you $US19,134.
The resale value is $13,422, with a recoupment of 70.1 percent.
These numbers are based on remodelling an existing 5 x 7-foot bathroom with ceramic tile floor.
The remodel includes a new 30 x 60-inch porcelain-on-steel tub with 4 x 4-inch ceramic tile surround and new single-lever shower control.
Other updates include a standard white toilet, solid-surface vanity counter with integral sink and a recessed medicine cabinet with light.
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Where should you spend your reno dollars in 2020?
10. Wood window replacement
Replacing 10 existing 3 x 5-foot double-hung windows with insulated, low-E, simulated-divided-lite wood windows will cost you $19,391 with a resale value of $13,468.
This project includes an interior finish of stained hardwood, an exterior finish of custom-colour aluminum cladding, and exterior trim to match what’s already there.