I posted Are Replacement Windows a Wise Home Improvement? last month with the chart you see below. Today I thought, why not include the whole story for you?
So here is a link to the official 2008 Cost vs. Value Report: Still Many Happy Returns for Home Rehabs. If you want to know how different home improvement projects affect the value of your home, this stuff is information gold!
Make sure you check out the whole article but I wanted to include here the National Association of Realtor’s Top 10 Project Paybacks:
1. Upscale fiber cement siding (86.7%)
2. Midrange wood deck (81.8%)
3. Midrange vinyl siding (80.7%)
4. Upscale foam-backed vinyl (80.4%)
5. Midrange minor kitchen remodel (79.5%)
6. Upscale vinyl window replacement (79.2%)
7. Midrange wood window replacement (77.7%)
8. Midrange vinyl window replacement (77.2%)
9. Upscale wood window replacement (76.5%
10. Midrange major kitchen remodel (76.0%)
They used to publish how those numbers changed by regions here in the United States. So, if for example, you lived here in Louisville, Kentucky, which I assume most of you do, you could find that a Midrange Bathroom Upgrade won’t get you as far (63.8%) as in other parts of the country (66%). I think they’ve found that the data follows cost of living levels so they aren’t extremely helpful.
Here’s a helpful chart for you. If you have any questions, please don’t hesitate to contact me.