From Brittany on November 18th, 2010 in General Remodel
It’s here! Remodeling Magazine’s Cost vs. Value Report for 2010 just hit the web. But because the report is tough to sift through, I’ve broken down the top 10 most cost-effective projects below.
Get out your pen, folks. Research starts here!
1. Deck Addition (Wood)
2. Minor Kitchen Remodel
The economy may have dampened a lot of industry, but it hasn’t crushed the return on minor kitchen remodels. The key is not to cut corners—get the most out of your kitchen remodel with someone who knows what they’re doing: a licensed contractor.
3. Siding Replacement (Vinyl)
This is another big one—homeowners across the country are rushing to fix up their siding. With winter around the corner, no one wants the structural damage and soaring energy bills that come along with neglected home exteriors. Give your siding a little winter TLC and have an expert check it out.
4. Window Replacement (Wood or Vinyl)
What happens when we leave old, drafty windows in place too long? Up to two-thirds of our home’s heating and cooling floats right out the window. Wood, vinyl and fiberglass windows are the top insulators on the market today, and always make for great replacements.
5. Attic Bedroom
The benefits of attic-to-bedroom conversions are many. You gain another bedroom, recreation room, or guest suite for use immediately, your home’s value takes a leap, and of course—the attic looks absolutely awesome.
6. Basement Remodel
No longer the cold, creepy storage space of yesteryear, basements are being remodeled into fantastic bedrooms, game rooms and family rooms for all to enjoy. And they can be finished on a budget with the right planning.
7. Major Kitchen Remodel
For homeowners ready to remodel the guts out of their kitchen, major renovations are the answer. Averages show that you can recoup nearly 70% of your investment, but with careful appliance selection and cabinet/countertop shopping with your contractor, expect to save a lot more. Compare rates for contractors here, and find out what kind of overhaul your budget allows.
8. Two-Story Addition
Certainly the most life-changing renovation, two-story additions completely remodel the look of your home. Their uses are as infinite as your imagination—add a few bedrooms, master suite, home office, library, or whatever your family needs most.
Homeowners that spent $165,000 on a second-story addition recouped at least $107,000, so choose the right design-builder and you’ll end up with more value than you bargained for.
9. Bathroom Remodel
With an average 64.1% return, bathroom remodels are most cost-effective when major fixtures are left in place. Leave the plumbing alone if it’s working fine, and focus on the flooring, sink, vanity, and bath or shower. Get a budget-friendly contractor to replace these components, and you’re well on your way to an affordable new bathroom.
10. Master Suite Addition
Finally, to the sweet stuff! Master suite additions are growing in popularity, mostly for their practicality. Couples prefer separate spaces to do their thing—and future buyers appreciate that luxury as well.