Improving the value of your home is one of the most important factors that you need to take into consideration before creating a remodeling project. Many home improvements offer a much higher return on your investment than others.
The “Remodeling 2014 Cost vs. Value Report” from Hanley Wood, LLC offers some great tips for Columbus homeowners trying to choose which home improvements they should make. The research was conducted by surveying local contractors throughout the Columbus area.
Weighing Project Costs Against Home Value Increases
Before beginning a remodeling project, you need to consider both the overall cost and the value that it will add to your home. Homeowners are often hesitant to invest in more expensive projects, even though they can actually have a higher return on your investment. Here are some of the most valuable remodeling projects covered in the recent report.
Garage Door Replacement
The report shows that the cost-value ratio of replacing your garage door is about 95%. The average job cost is $1,527, while the increase in home value is $1,445.
It is best to replace your old garage door with a four section door on galvanized steel tracks. You don’t need to replace your old motorized opener, but may want to consider adding insulation if you need to keep your garage heated.
Attic Bedroom Remodeling
Hanley Wood reports that remodeling unused attic space into a bedroom costs approximately $48,702. The project typically increases the value of the home by $38,179, which means the average homeowner recoups 78.4% of the job cost.
It is best to make the bedroom 15×15 feet. You should try to provide three or four windows and make sure that the new bedroom is properly insulated.
Install a Steel Entry Door
Replacing your old door with a steel unit is another great way to boost the value of your home. The Hanley Wood report found that the average cost of installing a steel door is $1,146¸while the change can boost the value of your home by $823. Here are some things that you should look for while choosing a steel door:
- It is best to use 20-gauge steel
- Make sure the door is factory finished
- Use a composite stop and aluminum threshold
You will need to test the durability of the door and make sure that it enhances the security of your house.
Choose Your Remodeling Projects Carefully
There are a number of factors that need to be taken into consideration while choosing a remodeling project. It’s always a good idea to make improvements that increase the value of your home.
If you want more insights, then you should review the report. It covers 35 of the most common remodeling projects and the estimated ROI for Columbus homeowners. If you’re in the mood for a Columbus Kitchen Remodel – Give Scott Hall Remodeling a call.