Best Home Repair and Remodeling Projects for 2013
2013 Best Home Repair Projects
It’s that time of year when Remodeling Magazine releases their Cost vs. Value Report. Data is collected on a wide range of the best home repair and remodeling projects to determine which investments return the most value during resale.
I’ve reviewed the data for the Cincinnati Metro Area as well as Regional and National Statistics for 2013. While the Return on Investment (ROI) for most projects are trending upwards, the data continues to show that home repairs, maintenance and updates tend to be a wiser investment than major retrofits and remodels.
Best Home Repair and Remodeling Investments for 2013
Leading the list this year for the best home repair and remodeling investment to your home is the front entry door, with a ROI of 85.6%. Your front door is the first item a potential buyer might come into contact with when viewing a your home, hence its impact on resale value. Even if your door is in good shape, don’t neglect door frame rot or poor paint. If a door frame repair is in order–spend a few hundred bucks on it to avoid creating a bad first impression.
In second place, up over a whopping 11% nationally, are wood deck additions, to 77.3%. If you wish to build a deck or have major deck repairs done this year, but are worried that such investment will not increase the value of your home, think again! Don’t neglect deck maintenance either, as a worn, rotten, or dangerous deck will detract from your home’s value as well.
In third place we have Garage Door Replacements, at 75.7%. My wife has suggested to me for years that we ought to replace our cheap looking garage doors, given that they are so prominently displayed on the front of our home. I often review home inspections during home sale transactions and garage doors are common discrepancy items. My wife’s intuition must be on to something–as an attractive, well functioning garage door is statistically shown to improve your home’s appeal, value, and propensity for a successful sale.
Minor kitchen remodels place fourth this area, with a 75.4% return on investment. This data continues to substantiate what I have advised for years. Namely, to avoid major kitchen remodels (over $25K) unless recouping the cost isn’t important to you. Contrast this return with the data for an upscale kitchen remodel in the Cincinnati area, where the ROI is only 54%!
Close up of wood frame rot repair
Wood window replacement rounds out the top five. No surprise here. Window leaks, wood rot, poor energy efficiency and a host of other issues are common home inspection issues with wood windows. Solid wood windows in good repair top a buyers’ mind when it comes to valuing a home for purchase. While wood window repair can be expensive, if you are preparing a home for sale, consider this strategy for window frame repair as a cost-effective alternative to window replacement.
There are several projects worth mentioning that top the survey list this year. These items recouping percentile costs in the high 60’s to low 70’s. They include:
- Vinyl Siding Replacement or Repair
- Vinyl Window Replacement
- Basement Remodel
- Composite Deck Addition
Worst Home Repair and Remodeling Investments for 2013
Adding a bathroom doesn’t pay during resale
These four projects only make sense if you plan on staying in your home a long time or are indifferent to their impact on your home’s value. With a return of under 50% for Cincinnati area homeowners, these projects win the prize this year for projects to avoid.
While bathroom additions certainly change the category for which a home may be marketed, they simply aren’t returning their investment during resale. There are many reasons for this, but my hunch is that the increased costs of running plumbing, electrical, heating/air and ventilation to a new location in addition to the normal remodeling costs diminishes the value of the project.
Sunroom additions continue to be a poor investment, with a 44% return this year. Part of this is due that sunrooms are rarely built well and often become a huge repair liability.
Backup power generators, at 45.3% haven’t fared well either, which surprises me. Maybe we need another storm in Cincinnati to remind us how much we value electricity!
Finally, home office remodels take the prize this for the worst investment, returning only 39.4%. I guess folks in Cincinnati aren’t much for telecommuting!
To read the entire report, visit Remodeling Magazine’s 2013 Cost vs. Value Report
Best Home Repair Advice for 2013
After helping thousands of homeowners with home repair projects over the years, and countless others prepare their homes for sale, my best advice is to simply maintain your home in good repair. In recent years I’ve seen so many real estate transactions head south because a buyer balked after receiving an inspection report. Repairs conducted during this “crisis” period in an attempt to save a sale are possible (we do it all the time) but invariably costs more and often jeopardizes the sale.
If You Need Help With a Home Repair
If you are in the Cincinnati Metro Area and need help from one of ProMaster’s Home Repair Heroes, feel free to give us a call or submit a service request via this website.
Call (513) 724-0539
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