Remodeling magazine recently released its annual Cost vs. Value report, which looks at 35 home improvement projects and determines the average cost and what you can expect to receive upon resale. For the second year in a row, the most valuable addition to a home was a steel-door entryway.
A steel-door entryway is a quick update that will greatly add to a home’s curb appeal. According to Remodeling, the average cost of a steel-door entry is $1,162 and you can expect to recoup 96.6% of that cost upon resale.
Here is the remainder of the top-five most cost-efficient remodeling projects:
Deck Addition—This job costs an average of $9,539 and you can recoup 87.4% of expenses.
Attic Bedroom—Of course, there aren’t many attics in Southern California, but for what it’s worth turning one into a bedroom will cost $49,438 and you can recoup 84.3% of that.
Garage Door Replacement—This costs $1,534 and has a resale value of $1,283, or 83.7%
Minor Kitchen Remodel—This will cost $18,856 and has a resale vale of $15,585, or 82.7%.
Other mid-range remodeling projects that do well upon resale are window replacements (wood and vinyl) and siding replacement (vinyl).
It’s always prudent to go into any remodeling project with your eyes wide open about the costs and the likely resale value, especially if you know you’ll be selling in the next few years.