If you're planning on remodeling or renovating your home, you might want to think twice before getting a professional for your master suite. For home remodeling, it's the outside aesthetic that counts.
WASHINGTON — If you’re planning on remodeling or renovating your home, you might want to think twice before getting a professional for your master suite. For home remodeling, it’s the outside aesthetic that counts.
In its annual Cost vs. Value report released January by Hanley Wood’s Remodeling Magazine, 20 of the most popular remodeling projects were compared to how much real estate professionals think it will actually bump up the resale value of your home.
“Curb appeal” projects, or projects that can be seen from the street, have the highest year-over-year increase in value, the report said. Interior projects showed the biggest decline.
Upscale and big projects have declined in value compared to years before, said Craig Webb, Editor in Chief of Remodeling Magazine and manager of the report.
The report compared these costs in 100 markets across the nation. The mid-Atlantic averaged a return of more than 51 cents on the dollar.
Below are the projects realtors say have the highest cost recouped in D.C.
5. Minor kitchen remodel (midrange)
This type of remodel leaves all cabinet boxes in place put replaces the drawer fronts and adds “shaker-style” wood panels. Make sure all major appliances are energy efficient models.
Cost: $22,180
Resale value: $19,053
Cost recouped: 85.9 percent
(Thinkstock)
Thinkstock
4. Deck addition (wood, midrange)
Add a 16-foot by 20-foot deck supported by 4-inch by 4-inch posts anchored to concrete piers, suggests the report. Include a complete railing system, stairs, a built-in bench and a planter of the same material.
Cost: $11,254
Resale value: $11,197
Cost recouped: 99.5 percent
(Thinkstock)
Thinkstock
3. Entry door replacement (steel, midrange)
Remove the existing entry door jambs and replace them with a steel unit. Replace the lockset. The door should be factory finished with the same color on both sides, suggest Remodeling Magazine.
Cost: $1,501
Resale value: $1,521
Cost recouped: 101.3 percent
(Thinkstock)
Thinkstock
2. Garage door replacement (upscale)
The report suggests to install a new four-section garage door on steel tracks while reusing the existing motorized opener. Window in the top panel can be 1/2-inch insulated glass.
Cost: $3,519
Resale Value: $3,590
Cost recouped: 102 percent
(Thinkstock)
Thinkstock
1. Manufactured Stone Veneer (midrange)
Starting from the garage and continuing around the main entrance, remove the vinyl siding from the bottom third of the side that faces the street. Replace the stone veneer, making sure to outline the archway.
Cost: $8,232
Resale Value: $8,635
Cost Recouped: 104.9 percent
(Thinkstock)
