Home Improvement Projects That Provide Real Value

Your home can be one of your most valuable assets. When we envision what our home will look like after we complete a new remodel, we seldom give a second thought to how the remodel value will hold up long term. Many homeowners get caught in the thought fallacy of a dollar in equals a dollar out. Unfortunately, this is not true. Once that last nail goes in and carpet gets walked on, depreciation starts and the value in your newly remodeled home starts to drop.

Are there remodel projects that retain value better that others, and if so, what will bring the most value? Well to answer that question, you need to clarify your intention for the remodel. Are you remodeling to increase the value of the home prior to listing it? Or are you updating the look and functionality for your personal preference. The answer to this question will have a great impact on where your dollars could/should be spent.

According to the Remodeling 2019 Cost vs. Value Report if your intention is to sell the home, you need to think like a broker. The exterior of the home is going to bring in the “first impression” and therefore exterior remodeling projects will hold the highest cost vs. value return. Some of the highest value returns in this area are in the following areas along the Wasatch Front:

1. Manufactured Stone Veneer (130%)

2. Garage Door Replacement (92.5%)

3. Siding Replacement (85%)

4. Roofing Replacement (69%)

In addition to the curb appeal of the home, thinking like a broker also includes seeing the total value in the overall project. With material costs on a steady increase, the project costs are not going to get any cheaper. There are more values that need to be considered than just the financial expenditure of the initial upfront costs and the recouped costs of the sale of the asset. If your intention is to keep your home and make it more user friendly and functional, these are the added values you need to consider. So, what projects would retain the most value for you while meeting your needs of functionality. According to the same report the following remodeling projects would meet your needs:

1. Minor Midgrade Kitchen Remodel (97.6%)

2. Deck Addition Wood (80.5%)

3. Major Upscale Kitchen Remodel (69.5%)

4. Master Suite Addition Midrange (67.8%)

Whether your intention is to sell your home in the near future or to gain a more user-friendly functional living space, we all want value returned for each dollar we spend. Working with a knowledgeable general contractor can assist you in reaching your goals whatever they may be. CK Builders brings value to your project with over 25 years construction experience. We seek out residential building products that have the industries best warranties and we install them with “Quality That Lasts a Lifetime!” This provides value that will stand the test of time.