TOP 5 HOME IMPROVEMENTS WITH HIGHEST ROI

Are you planning on doing any home improvement before you sell your home?  Do you know which home upgrades will attract the buyers? The Cost vs Value Report 2014, will show you how much you can recover from the cost that you are going to invest in your home improvement project once you sell your home. The report is a result of an online survey, between August and October 2013, from appraisers, agents and brokers that provided their expert opinions and estimates.  Cost vs Value Report 2014 can be downloaded for free at www.costvsvalue.com.

Adding a garage and a deck pays off, according to this year's Cost vs Value Report.  Real estate professionals ranked garage addition as the most important factor for buyers providing sellers with the highest  return on investment in the midrange category. It has a return on investment percentage of 104.3%  with an estimated job cost of $55,120 and having a resale value of $57,500.  While in the upscale category, deck addition is the most important home improvement for the buyers.  ROI percentage is at 83.3%. The estimated cost is $38,993 at $32,500 resale value.  Here are the top 5 home improvements based from the survey of Cost vs Value Report 2014:

MIDRANGE CATEGORY	JOB COST	RESALE VALUE	COST RECOUPED	RANK
Garage Addition	$55,120	$57,500	104.3%	1st
Attic Bedroom Remodel	57,822	60,000	103.8%	2nd
Family Room Addition	95,377	90,000	94.4%	3rd
Basement Remodel	75,406	70,000	92.8%	4th
Window Replacement (vinyl)	10,993	10,000	91%	5th

UPSCALE CATEGORY	JOB COST	RESALE VALUE	COST RECOUPED	RANK
Deck Addition (composite)	$38,993	$32,500	83.3%	1st
Bathroom Remodel	55,870	40,000	71.6%	2nd
Window Replacement (vinyl)	14,028	10,000	71.3%	3rd
Window Replacement (wood)	17,747	10,000	56.3%	4th
Bathroom Addition	80,924	42,500	52.5%	5th

If you've already decided to upgrade your home, here's  the TOP 5 Project Descriptions guideline from Cost vs Value Report that you can refer to:

MIDRANGE CATEGORY

GARAGE ADDITION

Construct a 26-by-26-foot freestanding two-car garage, including footings and slabon-grade foundation, 2x4 wood frame with OSB structural sheathing, and gable truss roof at 6/12 pitch. Install 25-year asphalt shingle roofing with galvanized metal flashing; vinyl siding and trim. Install five double-hung 30-by-48-inch vinyl windows; one 3-0/6-8 exterior door with half-glass

and lockset; and two composite 9-by-8-foot overhead doors with motorized openers. Include 100-amp breaker at main house panel and 50 linear feet of trench buried conduit to feed new electrical subpanel.  Provide electrical wiring for openers; three-way switching for fluorescent ceiling fixtures over each bay; three-way switching for two exterior spotlights; outlets to code. Interior wall, floors, and ceilings remain unfinished.

ATTIC BEDROOM ADDITION

Convert unfinished attic space to a 15-by-15-foot bedroom and a 5-by-7-foot bathroom with shower. Include a 15-foot shed dormer, four new windows, and closet space under the eaves. Insulate and finish ceiling and walls. Carpet floor. Extend existing HVAC to new space; provide electrical wiring and lighting to code. Retain existing stairs, but add rail and baluster around stairwell.

FAMILY ROOM ADDITION

In a style appropriate to the existing house, add a 16-by-25-foot room on a crawlspace foundation with vinyl siding and fiberglass shingle roof. Include drywall interior with fiberglass insulation, pre-finished hardwood floor, and 180 square feet of glazing including windows, atrium-style exterior doors, and two operable skylights. Tie into existing HVAC. Add electrical system to code, including 12 recessed ceiling lights. 

WINDOW REPLACEMENT (VINYL)

Replace 10 existing 3-by-5-foot double-hung windows with insulated vinyl replacement windows. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.

WINDOW REPLACEMENT (WOOD)

Replace 10 existing 3-by-5-foot double-hung windows with insulated wood replacement windows, exterior clad in vinyl or aluminum. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.

UPSCALE CATEGORY 

DECK ADDITION (COMPOSITE)

Add a 16-by-20-foot deck using pressure treated joists supported by 4x4 posts anchored to concrete piers. At one corner, add a second, 10-foot-diameter six-sided platform one step down from the main deck.  Include stairs on the smaller deck, assuming three steps to grade. Install composite deck material in a simple linear pattern. Trim the perimeter joists and wrap the 4x4 posts with composite materials to match the decking. Using the same decking material, include a built-in bench and planter along one 16-foot side. On the remaining perimeter, provide a railing system using composite material of contrasting or complementary colors that includes decorative balusters, post caps, and lighting. Railing and trim should provide for overall curb appeal to the outdoor living space by integrating the deck with the home’s color and architecture, creating a custom look.

BATHROOM REMODEL

Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint. Relocate all fixtures. Include 42-by-42-inch neo-angle shower with ceramic tile  walls with accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture.  Cabinetry shall include a custom drawer base and wall cabinets for a built-in look. Extend HVAC system, and include electric in-floor heating and heated towel bars.

WINDOW REPLACEMENT (VINYL)

Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated divided-lite vinyl windows. Simulated wood grain interior finish; custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.

WINDOW REPLACEMENT (WOOD)

Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated divided-lite wood windows. Interior finish of stained hardwood; exterior finish of custom color aluminum cladding. Trim exterior to match existing; do not disturb existing interior trim.

BATHROOM ADDITION

Add a new 100-square-foot master bathroom to existing master bedroom over a crawlspace. Include 42-by-42-inch neo-angle shower with ceramic tile walls with accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub; stone countertop with two sinks; two mirrored medicine cabinets with lighting; a compartmentalized commode area with one-piece toilet; and a humidistat-controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture. Cabinetry shall include a custom drawer base and wall cabinets for a built-in look. Extend HVAC system, and include electric in-floor heating and heated towel bars.

More on Project Descriptions on Cost vs Value Report 2014.

There are a lot of factors to consider when deciding on which home improvement to work on, for example, cost and time.  It is important to know what features are important to the buyers in your area.  The Cost vs Value Report 2014 can be a big help when making your decisions. It gives you a realistic budget and gives you outlines what the true cost of completing a remodeling project is.  It also gives you an idea of the resale value of your decided home improvement. 

If you are planning to make any home improvement, I'll be happy to introduce you to some local experts.