The new Remodeling Magazine 2014 Cost vs. Value report is out, so what do the new numbers mean? The biggest riser in ROI the new report is Entry Doors. If you have drafty doors, you may want to consider replacing them. Entry doors are at the leaders of the ROI list, averaging a 96.6% re-coop in cost upon resale. This means that Entry Doors almost pay for themselves when you buy them. According to Remodeling Magazine:
“That said, replacements—especially door, window, and siding projects—once again outperformed larger discretionary remodeling projects, when judged solely by national ranking (see “ROI: Replacement vs. Remodeling”). Entry Door Replacement (steel) is once again ranked first, as has been the case since this project was introduced in the 2009–10 report, and is the only project to return more than 90% of cost (96.6%).”
Entry doors have the biggest ROI in the 2014 Cost vs. Value Report
There has never been a better time to replace drafty doors. Although your home energy savings aren’t going to be cut in half, entry doors can save you energy and have full cost recuperation if you get them installed by a professional. Until then, weather stripping can be a good idea to save some money and keep energy costs down. The video below shows how to install the weather stripping yourself.
According to This Old House:
“A 1/8-inch gap around a standard entry door can let in as much air as a 6″ hole in the wall. For a tight seal, apply silicone weatherstripping to the sides and top of every entry door and install a silicone sweep under the bottom.” – Megan Baker
What else is in the 2014 cost vs value report?
As a general rule of thumb, replacement projects give a higher ROI than remodeling projects. Thankfully, for the second straight year the recuperation costs have gone up. This graph shows how the industry has changed since 2003, when it was basically a no-brainer to do a replacement project. Remodeling Mag has yet to come out with the city-by-city numbers, but it looks like New England and the Pacific Northwest have the highest replacement project ROI of any areas.