CHAPTER 2
WHERE TO SPEND THE MONEY Full-scale remodeling projects don’t generally offer the best ROI. Rather, the best approach to getting full value for your expense and effort is to refresh or replace existing items like windows and doors, usually with a mid-range upgrade. We are going to take a quick look at several of the best places to spend your money for the greatest return. We’ll also dive into details of where and how much you can expect to recoup when you decide to place your home on themarket. Let us begin by going over some of those replacement projects and continue with an overview of some of the other big-hitters, particularly the kitchen and bathroom remodel. REPLACEMENTS These projects are relatively simple and low-cost, placing themwithin the reach of most homeowners. The top four improvement projects in terms of ROI, according to Remodeling magazine, are the following:
• Garage door replacement: 98.3% • Manufactured stone veneer: 97.1% • Deck addition (wood): 82.8% percent • Minor kitchen remodel: 81.1%
As you can see, these are not sweeping, spectacular changes. So why are they so valuable? You should first consider where all these changes are. Every one of these changes is on the visible exterior of the home, creating a positive first impression in theminds of potential buyers—an impression that helps set the value of the home in their minds. Other replacement projects with a good return include replacing old windows with new vinyl or wood window frames and trim and installing a new roof, with returns of 71% and 62%, respectively.
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