Have you ever wondered what a kitchen or bathroom remodel may cost these days? Or what type of home improvements are likely to bring the highest return on your investment?
The Remodeling 2023 Cost vs. Value report is a valuable resource for any homeowner. The information will help you budget realistically and know when a contractor is providing a fair proposal. Perhaps your goal is to make improvements that are the best value. The report will help with that, too.
As in prior years, exterior improvements such as new siding and garage door replacement remain at the top of the list. Interestingly though, this year a new improvement has made the list. Heating, Ventilation, and Air Conditioning (HVAC) ranks second place in Seattle for highest return on investment. Technology has evolved significantly as demand increases for electric heat pumps. If warmer temperatures have you thinking of adding AC to your home, now might be a great time to consider this project.
According to the Remodeling 2023 Cost vs. Value Report, the following top five projects in Seattle are expected to bring the largest return on investment.
Download the free Cost vs. Value Report (www.costvsvalue.com) to see all 23 featured projects and a more in-depth scope of work and cost. Input your zip code for details that even more closely resemble those projects in your neighborhood.
Siding Replacement | Fiber-Cement
According to the Cost vs. Value Report, this improvement can yield a whopping 151.3% return on investment. It includes replacing 1,250 square feet of siding with new fiber-cement that has been factory primed and painted. Now that’s good value!
HVAC Conversion | Electrification
Converting from a fossil-fuel-burning furnace to an electric heat pump is next on the list with a potential 103.4% return on investment. The example reflects adding an electric heat pump for heating and cooling a 2,000-square foot-home.
Siding Replacement | Vinyl
Upgrading your home with new vinyl siding rates as the third highest value investment. This improvement could yield a return as high as 99.2%. It includes replacing 1250 square feet of siding with factory trim around openings and at corners.
Grand Entrance | Fiberglass
Nothing makes a positive impact on a home’s street appeal quite like a stately front entry. The example includes a ‘grand’ entrance upgrade from a standard 3-0 door to a fiberglass door with a wider opening to accommodate dual sidelights, new threshold, lockset, and decorative half-glass to match sidelights. This investment in your home’s entry is expected to bring an 89.6% return.
Garage Door Replacement
Lastly, replacing the garage door ranks fifth on the list with an anticipated return of 88.7%. This investment includes replacing an older 16×7-foot garage door and tracks with a new, four-section, insulated, high-tensile steel door, with a lifetime warranty. Includes new heavy-duty galvanized steel tracks (reusing existing motorized opener), factory-applied paint, thermal panel seals, and insulated windows in the top panel.
© 2023 Zonda Media, a Delaware Corporation. Complete data from the Remodeling 2023 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.