Q: This is the year that I want to remodel my home. However, I also want to choose the best home improvements for the money. How do I know understand cost vs. value when it comes to my home improvements?
A: Every year, Remodeling Magazine publishes its Cost vs. Value report — the all-inclusive report for New England (and the nation) that determines the value of a variety of home remodeling projects. This overview showcases the ROI for New England exterior remodeling.
When homeowners want the best home upgrades for the home and their pocketbooks, there’s no better place to turn than Cost vs. Value.
These are the newest findings for top Cost vs. Value home improvement investments:
The Value of Vinyl Windows
Vinyl window replacement is essential for any New England homeowner. They help keep utility bills low, increase curb appeal, and even improve home value according to the latest Cost vs. Value.
In 2018, vinyl window replacement in New England still remains within the top exterior remodeling options. It offers a return on investment of 75%. Vinyl trumps the ROI of wood window replacement, which brings along additional frustrations including maintenance and possible decay.
This chart by Energy Star shows us how much money replacement windows can save us per year. Specifically for New England, window installation can save between $91-$465 every year.
Homeowners will find the maximum amount of savings by choosing windows that are certified by Energy Star. This means that the windows include argon or krypton gas, expert installation, and dual or triple pane glass.
Improve Home Value with Vinyl Siding
Vinyl siding installation provides another impressive ROI for New England homeowners. This is one of the best home improvement upgrades according to Cost vs. Value, as it offers a return on investment at 80.2%, which is higher than the national average of 76%.
Quality is key when it comes to selecting new vinyl siding. Poor quality and flimsy siding likely will not yield the maximum ROI.
Be selective with your siding. Choose siding companies that offer quality products, including siding panels with superior thickness, such as double 5” clapboard.
New Entry Doors: Improving Curb Appeal and Increasing Home Value
Entry doors provide a healthy ROI, too. This year, entry door replacement continues to provide one of the top investments for homeowners in 2018. Entry door replacement offers a 67% ROI.
Entrance doors are a smart investment for security and style. The price primarily depends on the quality of the door, which is always important when it comes to getting the most value for your money.
Asphalt Roofing Installation Provides 72% ROI
Roof installation is one of the best home upgrades for the money. A quality asphalt roof offers a return on investment of 72%, offering homeowners great value along with the ultimate protection from the elements.
Roofing replacement ROI in New England is also higher than the national average, which comes in around 68%.
A new roof offers many benefits for homeowners, especially when they choose quality shingles that are guaranteed to last a lifetime, such as GAF’s 100% coverage on shingle defects.
The Best and Worst ROI Home Improvements in New England
Homeowners can have confidence knowing their money is well-spent with exterior remodeling this year. This is a quick recap on the best (and worst) places to spend your remodeling dollars this year:
Best Home Improvements for the Money (Midrange and Upscale):
- Garage door replacement – 99%
- Siding replacement – 80.2%
- Minor kitchen remodel – 76.1%
- Vinyl window replacement — 75%
- Roofing replacement — 72%
- Entry door replacement – 67%
Worst Home Improvements for the Money (Midrange and Upscale):
- Backyard patio – 43.7%
- Master suite addition – 45.5%
- Bathroom addition – 50.4%
- Major Kitchen Remodel – 53.2%
- Bathroom remodel – 55%
- Deck addition (composite) – 59.3%
There were no remodeling projects this year that exceeded 100%.
If you’d like to learn more about Cost vs. Value and the top remodeling projects this year, be sure to watch this video from Remodeling Magazine:
Some other posts you may be interested in:
- Cost vs Value: The 5 Most Financially Savvy Home Improvements You Can Make
- Best Home Improvements to Maximize ROI
The best home improvements are those that are made from quality products and last for years to come. If you have questions on exterior remodeling or would like to discuss your options, contact Stephanie Vanderbilt at svanderbilt@mycoastalwindows.com.
