From our recent Newsletter
Want to get the best return on your remodeling investment? Stick to the exterior of your home, according to the 2015 Cost vs. Value report from the National Association of Realtors® and Remodeling Magazine.
Realtors® across the country said a steel entry door would return 101.8 percent of its costs – the only project that had a positive return on investment.
The relatively low cost of replacing a steel entry door ($1,200) may have something to do with why it’s almost always at the top of the annual list of remodeling projects that recoup their cost.
The Cost vs. Value report tallies the opinions of Realtors® and also delivers estimates for the average cost of completing common home renovations.
To get the results from our area, you can visit the magazine’s Cost vs.Value page. Select our region and then you’ll see a list of metro areas in our region. You do have to share some personal information about your remodeling plans to get the local results.
Here’s the national data:
| Project | Return |
| Steel entry door | 101.8% |
| Manufactured stone veneer | 92.2% |
| Garage door replacement (midpriced) | 88.5% |
| Fiber cement siding replacement | 84.3% |
| Garage door replacement (upscale) | 82.5% |
| Vinyl siding replacement | 80.7% |
| Wood deck addition | 80.5% |
| Minor kitchen remodel | 79.3% |
| Wood window replacements | 78.8% |
| Foam-backed siding replacement | 77.6% |
The report is a great starting point if you’re looking for data about home remodeling costs and potential returns, but nothing beats having an inside view of the local market.
The key to getting a good bang for your remodeling buck is to keep up with the Jones’ while never surpassing them. You won’t recoup the cost of putting gold-plated faucets in the bathroom of an entry-level home. Likewise, you’ll turn off luxury buyers if you put vinyl tiles down when you replace the kitchen floor of an upscale home.
If you’re thinking of remodeling, feel free to contact me, and we can discuss the options. I’m in and out of homes every day. I know the local market and what’s in the inventory of homes for sale. I see what buyers are looking for in a home, and I can tell you what’s typical for your neighborhood.
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Bill Salvatore is a member of Heroes Home Advantage, a cash back program for Real Estate buyers and sellers. The program honors Veterans and Active Military Members, Fire Fighters and First Responders, EMTs and Emergency Medical Personnel, Nurses, and Teachers. Through the Heroes Home Advantage program, Realtors give a portion of their commission back to the hero in the form of assistance with closing costs.
Bill is also President of the Phoenix Chapter of VAREP, Veterans Association of Real Estate Professionals. VAREP is focused on education and employment, making real estate transactions smoother and easier for Veterans and Military Personnel, and instructing other real estate related professionals in the best procedures for dealing with these transactions. VAREP is a nationwide non-profit association with an impressive presence in the Phoenix area.
In founding AZVHV, Arizona Veterans Helping Veterans, Bill has spread his dedication to Veterans and Military throughout the real estate industry. An increasing number of local professionals have joined Bill in offering discounts to these heroes, not only when buying or selling a home but in all aspects of homeownership. AZVHV has developed a wide range of services and is gaining momentum every year. Membership is free. Bill’s only requirements are that businesses be legitimate and willing to offer a discount on their services to Veterans and Military Members.
You can contact Bill at Realty Executives East Valley, 1166 E Warner Rd. Suite 117, Gilbert AZ, 85296. Direct Phone: 602-999-0952. E-Mail: golfarizona@cox.net. Web site and blog: www.yourValleyProperty.com.
