The National Association of Realtors published this informative article about what people are looking for when they buy their homes and we were interested to see that more than 50% of new homeowners undertake a remodeling project within 3 months of the home's purchase with the average expenditure being between $4000 - $5000.

Replacement Iron Entry Door (85.6% ROI)
What we found most interesting about this article was that even though the project with the most "bang for your buck" in the mid-level project range was replacing your front door with a steel entry door (with an almost 86% return on investment), other remodels were undertaken more often.  What we found even more interesting was that if you look back over the years, a steel entry door replacement actually MADE you money when you sold the house! 

In the report for 2009, for example, replacing your door with a steel one gave you a 128.9% return on investment!! We couldn't find ANY other remodeling project that would actually give you back more than you paid.  What this shows is a consistent trend that changes over the years, but that is always in the top ranking position of this study.  We think that's an important piece of information and most likely people don't know it or they would do it more often!  So what other remodels are homeowners doing that will allow you to recoup some of the cost?

1) Kitchen Remodels (68% - 75% ROI)
Kitchen remodels were the most popular, which according to Remodeling Magazine typically bring in an average return of between 68% - 75%.  This included things like replacing counter tops, trading out cabinet fronts and updating paint.

2) Bathroom Remodels (65% ROI)
Next were bathroom remodels with an ROI of around 65%. Replacement of fixtures, vanity tops and medicine cabinets along with upgraded flooring and tile or wallpaper were the jobs most likely to be done in this category.

3) Lighting (ROI unlisted)
Third most popular were replacement or additional lighting, on the exterior or interior of the home.  Recessed lights, outdoor patio and yard lighting and energy efficient lighting were popular. Lighting was not included in the list of items qualified to give you a return on investment.

4) Add or Replace Kitchen Appliances (ROI unlisted)
Fourth most popular remodel was the replacement or addition of kitchen appliances. Stainless steel appliances, larger refrigerators, more energy efficient and newer appliances were all reasons to upgrade.  Again, this item was not listed as an item to give you a return on investment.

5) Basement Remodel (70% ROI)
We also found some interesting information about the amount of money people were willing to pay for certain features such as basements, ocean views, closet space and laundry rooms. For example, we learned that while people were willing to pay on average just $3,200 more for a home with a basement, the median cost for a basement remodel was over $61,000 with a 70% return on investment.

The study also reported that 57% of home buyers purchased homes with fireplaces and 65% felt that a home with air-conditioning was important - we can't argue with that. Arizonans find this feature essential!  Adding sunscreens to your windows is another way to cool your home down, saving you money on cooling costs and reducing sun damage to draperies and furnishings.

So whatever your remodeling project this spring, do the math and spend your hard earned money wisely. Consider replacing your front door, sliding arcadia doors, adding window sunscreens (don't forget about SRP's rebate program) or a beautiful finishing touch to your fireplace.

For a free no obligation estimate, please contact us at sales@fisd.biz or by calling 800-361-7989.