Replacement projects are an amazing way to add value to your home. The best part is, you don't have to empty your pockets and lose your savings on a full remodel. The following replacement projects are a sure fire way to get the highest return on investment. Replacement projects are a great option simply because you can completely change the look of your house with a small price tag. Even just buying new windows, siding, and front door can completely change the look of your house and add sale value!
Here is our top 10 remodeling projects. Don't worry, these jobs are quite simple and straightforward. They will replace aged and worn components in your home that will update your house and can even add living space - all without expanding your footprint:
1. Entry Door - Replace one of your entry doors with a mid-level steel door. You can do this upgrade relatively inexpensively - an average of $1,238 - in addition to strongly improving curb appeal and boasts a 73% pay back.
2. Attic bedroom - Pop out a dormer, add a few windows, put in insulation, finish the walls and ceiling, improve the wiring and lighting and get HVAC extended into the attic and you have a great attic bedroom with a full bathroom. You'll spend around $56,000 and get a payback of about 76%. Many adult children are moving back in to their parent's homes and several aging parents move back into their children's homes. In fact, the Census Bureau shows that 18% of all American homes are doubled up. The result is that many people require more living space in their homes. Remodeling the attic is a cheap and relatively simple resolution to getting that necessary additional space. Alternatively,
remodeling the basement is next in line for cost-efficiency regarding
additional living space, but according to Alfano, the additional code requirements necessary to make it happen can add expense and complications.
3. Windows - If you decide to go this route, upscale vinyl replacement windows have a 72% average payback on a cost of $16,123. These estimates are based on a project to replace 10 double-hung 3-by-5 windows. These windows have simulated wood-grain trim and are made with low-emissivity glass. *
4. Mid-Range Garage Door - Garage door replacements are never the most coveted home project, but they have to be done. Don't worry, it adds a lot of function and curb appeal, plus it pays back an astounding 82.7% of its $1,535 average cost.
5. Upscale Garage Door - Have a little more money to spend? Opting for a higher end garage door replacement is about double the cost of the mid-range door at $3,198. The upside: increase your payback to a whopping 86%!
6. Mid-Range Exterior Siding - New mid-range replacement vinyl siding upgrades the look of the home and pays back 69.5% of the $11,729 average price.
7. Upscale Exterior Siding - Use upscale fiber cement to replace your existing siding. Siding has a great 79% average payback on an average cost of $13,660. this is on of the most cost-effective upgrade you can make on your house.
8. Upscale Exterior Siding (option 2) - If you're looking for a little more insulation in your home, you can opt for foam-backed vinyl siding. The good news is no matter which type of siding you select, your costs will remain about the same and there's no advantage in terms of home value. Foam-backed vinyl siding averages to a cost of $12,299 and yields a slightly better payback of 79.8%.
9. Mid-Range Kitchen remodel (minor) - This minor remodel boasts another great payback - 78.6% - on a modest $20,440 initial cost. A mid-range kitchen remodel will include new appliances, a new sink, new faucets, and laminate counter tops. You won't be able to touch the floor or rearrange the cabinets, but at least you can reface the cabinets and swap out your old hardware. "You're taking what's there and giving it a face lift," Alfano says. You can have a near brand new kitchen that will last for years for less than the price of a new car. Most consumers are moving away from more expensive features a chef's kitchens that involve moving electrical services, walls, and new plumbing.
10. Wood Deck - What
better way is there to give your house a quick facelift than to add a
beautiful wood deck to your backyard? Fortunately, they aren't too
expensive. At an average cost of $9,975 and a great 74% payback a deck is an affordable and easy way to add value and versatility to your home.
Before you rule out making any changes to your home remember, replacement projects are simple, affordable, and even profitable in the long run! We are eagerly waiting to help you out with whatever project you decide to take on next. At Unique Home Building, we make your home our priority, whether that means building, remodeling, or selling. Please don't wait; call us today!