Carol Rock's Blog
Each year, Remodeling Magazine gathers data from nearly 150 markets on the average cost for 21 of the most popular home improvement or remodeling projects. Along with the expenses, they tally the resale amounts of those home in 100 markets in the United States to compare the cost versus the resale value of those improvements.
Each year, as compiled in the Remodeling 2018 Cost vs. Value Report, the researchers share the mid-range and upscale trends from the prior year, and which gave the most return on investment (ROI) for the homeowner.
Here are the highlights from 2018
Top prize for ROI goes to the upscale garage door replacement with nearly 100 percent return for most regions. Other items appearing near the top of the list include mid-range steel entry-door replacements and adding a manufactured stone veneer to your exterior. Farther down the list are the usual suspects, with a minor kitchen remodel and wood deck addition (mid-range) in the lower eighties.
While updating a bath continues to be promoted as a big-seller with a mid-range remodel just over 70 percent, both a mid-range and major upscale kitchen remodels net just above half of the cost and as do bathroom additions in both categories.
View the charts at Remodeling to review region-specific information where the contenders resort according to the local region and city-specific data. Regional price differences in both materials and labor costs; and home sales pricing affect the percentages of return, so the top three or four may change positions in your region.
The idea that a remodel or upgrade ROI never tops 100 percent may be shocking for home-sellers looking to recoup their expenditures. Remember, however, that what constitutes a dollar for dollar return does not factor in what can mean a higher return for you. If your remodeled bathroom or new artistic garage door speeds up the sale time so that you're not trying to make two mortgage payments while you wait for a home to sell, your personal return is more valuable to you than just the selling price over remodeling cost. And, if you've lived in the house after the remodel and enjoyed its benefits personally, the ROI is incalculable by statistical standards.
If you plan to place your home on the market, review the Cost vs. Value Report for your region and city before undertaking significant additions or improvements. Then, consult a realtor specializing in your neighborhood to see what trends may improve the bottom line for your home.
Stuck in a rut? Consider giving your house a stylish makeover. Unlike total upgrades,makeovers can be finished in a single day. In fact, some house makeovers don't cost a cent. If you're ready to refresh your home, check out these home makeover ideas.
Walls that pop - Hang framed portraits of relatives and friends on a wall in your den. Don't just hang the pictures.Put each picture in a different colored or different size frame. If you're feeling especially gutsy, paint the wall an attention grabbing yellow, orange,blue or green. This wall pickup works well with children's playrooms too.
Double up in the bedroom - Grab bolts,washers and a drill. Get support beams, slats and safety rails. Get ready to turn your children's twin beds into bunk beds. Add a ladder, so your children sleeping on the top bunk can easily climb in and out of bed. Decorate the space where the other twin bed formerly was with a rustic chest. Fill the trust with your children's toys.
Lay new carpet - This simple home makeover will make your entire house feel different. For weeks, you might feel as if you bought a new house or had another room added onto your existing home.To save money, shop at discount carpet stores. You can also save by getting the carpet from a wholesaler.
Re-purpose your basement - Desire for more space is a leading reason why couples move into bigger houses. But, you may not have to buy a larger house if you clear old furniture, old clothes and boxes out of your basement. Donate the goods to a charity that serves people living in your community. Use your basement as a play room, family room or home office. All you need is a sofa, two chairs, bookcase and rugs. Place furniture in your basement as if you were furnishing your upstairs family room. Add in an office desk if you're converting your basement into a home office. Decorate the space with plants, family pictures and framed motivational quotes.
Rearrange living room furniture - Move your living room sofa away from the window. Put it against an opposite long wall. Add new upholstery to living room chairs.
Take advantage of craft stores - Visit craft stores in search of items like elegant silk flowers, hand woven baskets and wreaths. String colorful, silk ribbon through wreaths. Hang a self-decorated wreath on your house's front door. Place a crystal vase or handwoven basket filled with elegant silk flowers on your coffee tables and bathroom counter tops.
Wallpaper works wonders - Line your bathroom walls with decorative wallpaper. Think seashells, black and white etchings and turtles.
True. You spend a lot of time at work. You also spend a lot of time at home. Whether you realize it or not (like work), your home influences your mood, attitude and your energy. Give yourself a boost by refreshing your house, particularly rooms that you spend the most time in.