According to top NoVA contractors, the following projects have great resale value. The figures are taken from ‘Remodeling Magazine’s’ annual Cost vs. Value Report for the South Atlantic region.
Arnold cites this as one of the projects with the best return on investment. A steel door replacement can recoup 84.4 percent of costs while a fiberglass door can recoup 76.2 percent.
A midrange minor kitchen remodel can recoup 77.7 percent of your investment, while an upscale, major kitchen remodel can recoup 60.9 percent.
A midrange bathroom remodel can recoup 66.1 percent of job costs and an upscale remodel can recoup 59.8 percent. “If you’re strictly doing a project just for resale, then you’re not putting a lot of your personal taste in it,” Chris Arnold, vice president of business development for Foster Remodeling Solutions, says. “You just want it to be generic.”
Arnold says that window replacements also provide a great return. Vinyl windows can recoup 77.8 percent of their cost while wood windows can recoup 74.1 percent.
Arnold adds that replacing roofing is another good bet for resale, as that can recoup 69.3 percent of costs. In the case of windows and roofing, a warranty can also boost your chances of making your money back. “Hire a professional contractor that has a warranty and then make sure that warranty is transferrable to the future homeowner,” Arnold suggests.
Basement (especially if it’s unfinished initially)
“It’s going to help you with the square footage, because you can say you’ve got so much square footage space when you go to sell it, but also people want somewhere with the basement finished,” Fies says. A basement remodel can recoup 70.7 percent of your investment.
Not Worth It:
“They’re already on the way out,” Fies says.
Over-the-top kitchen and bath finishes
“You want to appeal to a broader base. Anything permanent like countertops or cabinet or tile, that’s hard to change,” Arnold says.
Elaborate home office
“You don’t want to do a lot of really custom-build work in your space if you’re looking to sell it,” Fies says.