Top 10 Home Updates That Pay Off

Anytime I start a remodel project, I first ask myself if we decided to sell in the near future, will it pay off? Before I head down the road of listing what is viewed as the best bet projects I want to share a fantastic resource that drills down estimated cost recouped based on your location.

Go to the "Remodeling" website and choose your area. You will receive a report comparing your area to national averages.

The top 10 below are focused on Northern Colorado and even those have changed since my last post in September. For example, replacing a garage door is no longer the #1 ROI. To see details of what each project includes, head over to the link I've given above.

Manufactured Stone Veneer

It seems Colorado has a special place for stone veneer because the cost recouped on this project is 114.2% compared to 94.9% for the National average.

Grand Entrance

Updating your front entrance door, (even better to double doors) with fiberglass material will yield you a recoup of 110.5% vs the national average of 71.9%.

Garage Door Replacement

Having an aesthetically pleasing and well functioning garage door bodes well for recouping your investment. In Fort Collins is it estimated you will get 108.8% back on your return. The national return is slightly lower at 97.5%.

Wood Deck Addition

The 4th highest ROI is a wood deck addition at 100%. Interestingly, on a national level, a wood deck only has a recoup cost of 75.6%.

Deck Addition Using Composite Materials

Following close behind, is #4 with a composite deck and a recoup cost of 95.9%. The national ROI (return on investment) is quite a bit lower at 69.1%. I think this speaks volumes about our lifestyle, in Colorado - we love our outdoor living!

Vinyl Windows

The bonus of living in Fort Collins is if you replace your windows with vinyl energy-efficient windows not only do you get an ROI of 92.7% but you may qualify for a City credit. The national-level recoup cost is 73.4%.

Minor Kitchen Remodel (midrange)

This project has a recoup value of 90.9%, higher than the national average of 80.5%. So what is in a minor vs a major remodel? As described on the site; replace fronts with new shaker-style wood panels and drawer fronts, including new hardware. Replace cooktop/oven range and slide-in refrigerator with new energy-efficient models. Replace laminate countertops; install midpriced sink and faucet. Add new resilient flooring. Finish with painted walls, trim, and ceiling.

Bathroom Remodel (midrange)

With an ROI of 90.4% a midrange remodel entails replacing all fixtures, a porcelain-on-steel tub, 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. Note; the national ROI is low at 67.2%

Siding Replacement

Not as exciting but this project can give you 82.5% back on your investment, plus it really boosts the curb appeal!

Major Kitchen Remodel (upscale)

An upscale remodel beats out a major midrange remodel giving it a recoup cost of 80.8%. Their description of an upscale remodel includes stone countertops with imported ceramic- or glass-tile backsplash; built-in refrigerator, commercial-grade cooktop and vent hood, wall oven, and built-in microwave unit. Install high-end sink with designer faucets and water filtration system. Add new general and task lighting, including low-voltage undercabinet lights. Install tile or similar flooring that looks like wood.

My experience working with buyers is that an updated kitchen is the first thing buyers look for in a home, so I'd say go for the remodel and if you decide not to sell you at least have one amazing kitchen to cook in!