Not all remodeling projects deliver dollar for dollar value to the homeowner. Certain upgrades will provide a potential return on investment, while other improvements are purely for the purpose of aesthetics and comfort. Consider our findings for which remodeling projects are the most popular among homeowners and will result in the highest return on their investment according to the Remodeling Magazine 2019 Cost vs. Value Report.
Bathroom Remodel (Midrange)
Resale Value: $13,717
Percentage recouped: 67.2%
Remodeling Magazine defines a Midrange, Bathroom Remodel as:
Update existing 5×7-foot bathroom. Replace all fixtures to include 30×60-inch porcelain-on-steel tub with 4×4-inch ceramic tile surround; new single-lever temperature and pressure-balanced shower control; standard white toilet; solid-surface vanity counter with integral sink; recessed medicine cabinet with light; ceramic tile floor; vinyl wallpaper.
As homeowners find more cost-effective ways to add value to their homes, many opt for smaller scale upgrades that can be completed in a shorter time frame. According to a recent survey released by the National Association of Home Builders (NAHB), bathrooms have overtaken kitchens as the most popular remodeling project. “Small-scale renovations are slowly becoming just as popular as large-scale projects, as seen with bathroom remodeling becoming more common than kitchens,” said 2018 NAHB Remodelers Chair Joanne Theunissen.
Major Kitchen Remodel (Midrange)
Resale Value: $41,133
Percentage recouped: 62.1%
Remodeling Magazine defines a Midrange, Major Kitchen Remodel as:
Update outmoded 200-square-foot kitchen with functional layout of 30 linear feet of semi-custom wood cabinets, including 3×5-foot island; laminate countertops; and standard double-tub stainless steel sink with standard single-lever faucet. Include energy efficient range, vented range hood, built-in microwave, dishwasher, garbage disposal, and custom lighting. Add new resilient flooring. Finish with painted walls, trim, and ceiling.
The kitchen is the heart of the home and where most families spend the majority of their time. In addition, home buyers frequently name an updated kitchen as a must-have when shopping for a new abode. So, it’s no wonder the kitchen is one of the most commonly remodeled spaces. MBS Interiors is proud to offer interior design solutions for our Modern Builders Supply contractors. We provide complete and personalized design solutions from space planning, cabinetry design and appliance selection to flooring options and plumbing collections. Our design services and solutions include coordination of measurements and drawing your floor plan.
Window Replacement (Vinyl)
Resale Value: $12,332
Percentage recouped: 73.4%
Remodeling Magazine defines a Vinyl Window Replacement as:
Replace 10 existing 3×5-foot double-hung windows with insulated, low-E, simulated-divided-light vinyl windows with a custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.
Homeowners usually know when their windows are in need of replacement. High energy bills, drafts, and difficulty opening or closing windows are just a few of the telltale signs. Help your customers save energy and money with Polaris Windows & Doors. Comfort, energy efficiency, and ease of ownership are built into every product. We offer windows and doors for every budget and every location in your customer’s home.
Roofing Replacement (Asphalt Shingles)
Resale Value: $15,427
Percentage recouped: 68.2%
Remodeling Magazine defines an Asphalt Shingle Roofing Replacement as:
Remove and dispose of existing roofing to bare wood sheathing. Install 30 squares of min. 235-lb. fiberglass asphalt shingles (min. 25-year warranty) with new 30-lb. felt (or equivalent synthetic) underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a rectangular hip roof; custom flashing at two average-size skylights; and custom cap treatment at vented ridge.
New roofing will improve the exterior look of the home and it’s arguably one of the most important repairs a homeowner can make to ensure the integrity of the home. According to Consumer Reports, asphalt shingles are the most popular type of roofing cover. These shingles not only blend looks and provide longevity; they are reasonably priced.
Staying up to date on remodeling projects that will result in the highest return on investment for homeowners will enable you to help your clients make smart decisions on where to allocate their home improvement investments.