TO
SHOW FIRST:



AMENITIES
SPECIAL MARKETS
PROPERTY TYPES
TO
SHOW FIRST:



AMENITIES
SPECIAL MARKETS
PROPERTY TYPES

Learn

Share
Share
Save
Save

Top 3 highest value remodeling projects

Top 3 highest value remodeling projects

 
May 9, 2011
 
For those considering selling a home, making upgrades to certain parts may help sellers find a home buyer quicker. However, it's also important to get the best return on the initial investment when deciding to sell.
 
Data collected by the National Association of Realtors (NAR) and Remodeling Magazine from a survey of appraisers, agents and brokers shows the top three projects which give home sellers nationwide, on average, the best value.
 
1. Adding a steel entry door
Cost - $1,218
Return - 102.1 percent
 
According to the survey, one relatively small project which usually gives sellers a positive return on their investment is a replacement entry door made of steel. The doors come in a wide variety of colors and can make the home feel more secure.
 
However, it's also important to choose a door which fits with the style of the house, and doesn't seem out of place with its other design features, which could hurt resale value. Because of that, a plain steel door won't be the right choice for every home.
 
2. Replacing the garage door
Cost - $1,291
Return - 83.9 percent
 
For homes with an aging garage, putting in a new garage door can give prospective home buyers a much different first impression of the home.
 
While it may cost a bit more money, some real estate agents told NAR that a garage door with windows that let in light could be a major selling point for some home buyers; particularly those who may want to use it as a workshop instead of just a place to park.
 
However, NAR cautioned homeowners they need to be careful not to overpay. While some suitable garage doors can cost about $600, others can cost three times as much.
 
3. Replacing aging siding
Cost - $13,382
Return - 80 percent
 
While it's more of a major project, replacing the siding on a home with new fiber-cement siding can still bring a good value for some homeowners, particularly if the exterior of their home appears a bit worn.
 
Purchasing pre-painted siding can also eliminate the problem of exterior painting. NAR added that this feature can be another selling point a real estate agent can mention to potential home buyers, since it may help them save money in the long run. However, construction experts said homeowners should carefully compare materials before making a purchase, because not all siding is created equal.

About Coldwell Banker®

Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of approximately 83,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Coldwell Banker On LocationSM YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
Coldwell Banker Real Estate LLC will never sell or provide information to a third party without your prior consent.
Click here to see our full Privacy Policy and Terms and Conditions of Use
New Search
Top Tools

Choose a Currency close window close