02. April 2018 · Comments Off on 4 Top Home Renovation Choices for 2018 · Categories: Uncategorized

 

Picture this: It’s 2018, the housing market looks like it’s going into a decline, but you just can’t fight off that itch to do a bit of home renovation. You were thinking about selling, but you just don’t know if it’s going to pay off. But fear not! Each year, Remodeling Magazine releases a cost versus value assessment for home improvement and remodeling, so we’ve put together a list for 2018 based on their most recent assessment.

 

  1. Fiberglass Attic Insulation

 

Insulating your attic is a decent midrange expense and the only one on this list that pays off more in returns than what you out into it. In addition to cooling your home and reducing heat loss in the winter, this is also an excellent way to save on the electric bills. The average job cost going in is $1,343, with a resale value of $1,446 and a cost recoup of 107.7%.

 

  1. Steel or Fiberglass Entry Door Replacement

 

Steel and fiberglass doors both offer significant advantages over wooden doors. Although wooden doors can be quite lovely, they seldom offer the same degree of security and energy efficiency as steel and fiberglass. Wooden doors also require more upkeep to keep them in good condition. It may seem counter-intuitive, but fiberglass doors do tend to carry a higher value than steel. For that reason, they’re considered an upscale remodeling job versus the midscale range for steel. The average job cost for fiberglass is $3,276, with a resale value of $2,550 and cost recoup of 77.8%. Regarding steel, you’re looking at an average job cost $1,413 and a resale value of $1,282, with a cost recoup of 90.7%. So not only is steel cheaper, but you’re also looking to get a better return for your efforts.

 

  1. Garage Door Replacement

 

A fresh garage door can do wonders for your home’s exterior, particularly if you own a home where the door(s) face the road and have a greater aesthetic impact on the home. There are two types of garage door replacements you can consider doing that will off you a decent return: midrange and upscale. The primary difference between the two is the degree of galvanization in the replacement tracks and other parts, as well as whether the replacement door panels are insulated with energy-efficient glass windows. For a midrange job cost, you can expect to drop around $1,749, with an average resale value of $1,345 and a total cost recouped at around 76.9%. In the instance of the upscale doors with better insulation, the average job cost is around $3,304, with a resale value of $2,810 and the total cost recouped being 85.0%. By this point, you may be noticing that better insulation and energy savings almost always pay off more.

 

  1. Manufactured Stone Veneer (Veneer Architectural Stone)

 

This one seems rather curious, seeing as that the differences between real stone veneer and manufactured veneer lend themselves towards real stone being the better option (besides slate). This midrange do-up generally involves an average job cost of $7,851, with a resale value of $7,019. This is including the costs involved removing the existing siding from the front of the house and installing two layers of water resistant barrier, etc. The average cost recouped is $89.4%. This one might be worth looking a bit further into regarding the use of actual stone versus manufactured.

 

Even with the potential of a looming housing crisis, there are still a few choice renovations you can make around the home that won’t break the bank but are almost always guaranteed to provide a good return in the event you do decide to sell. And if you’re thinking about doing the renovations yourself, perhaps now is a good time to consider getting a new vehicle that can help carry the load for you, like the all-new 2019 Toyota 4Runner TRD Pro.