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2012-13 Cost vs. Value: Make the First Impression Count

Updating the outside of a home pays off, according to this year’s Cost vs. Value Report. Real estate professionals ranked exterior improvement projects as winning the buyers’ eye and providing sellers with the most return on investment.
If your clients are wondering what home improvement projects will give them the best return on the sale of their home, tell them to think “curb appeal.”
When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.
A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.
This is the 15th year that Remodeling magazine — in cooperation with REALTOR® Magazine — has released the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.
Exterior projects dominated the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects.

Top 10 Midrange Projects

1. Entry Door Replacement (steel) 
Job Cost: $1,137
Resale Value: $974
Cost Recouped: 85.6 percent
2. Deck Addition (wood)Job Cost: $9,327
Resale Value: $7,213
Cost Recouped: 77.3 percent
3. Garage Door Replacement 
Job Cost: $1,496
Resale Value: $1,132
Cost Recouped: 75.7 percent
4. Minor Kitchen Remodel 
Job Cost: $18,527
Resale Value: $13,977
Cost Recouped: 75.4 percent
5. Window Replacement (wood)
Job Cost: $10,708
Resale Value: $7,852
Cost Recouped: 73.3 percent
(tie) 6. Attic Bedroom Addition 
Job Cost: $47,919
Resale Value: $34,916
Cost Recouped: 72.9 percent
(tie) 6. Siding Replacement (vinyl) 
Job Cost: $11,192
Resale Value: $8,154
Cost Recouped: 72.9 percent
7. Window Replacement (vinyl)
Job Cost: $9,770
Resale Value: $6,961
Cost Recouped: 71.2 percent
8. Basement Remodel 
Job Cost: $61,303
Resale Value: $43,095
Cost Recouped: 70.3 percent
9. Major Kitchen Remodel 
Job Cost: $53,931
Resale Value: $37,139
Cost Recouped: 68.9 percent
10. Deck Addition (composite) 
Job Cost: $15,084
Resale Value: $10,184
Cost Recouped: 67.5 percent

Top 10 Upscale Projects

1. Siding Replacement (fiber-cement)
Job Cost: $13,083
Resale Value: $10,379
Cost Recouped: 79.3 percent
2. Garage Door Replacement
Job Cost: $2,720
Resale Value: $2,046
Cost Recouped: 75.2 percent
3. Siding Replacement (foam-backed vinyl)
Job Cost: $13,818
Resale Value: $9,926
Cost Recouped: 71.8 percent
4. Window Replacement (vinyl)
Job Cost: $13,055
Resale Value: $9,295
Cost Recouped: 71.2 percent
5. Window Replacement (wood)
Job Cost: $16,361
Resale Value: $11,194
Cost Recouped: 68.4 percent
6. Grand Entrance (fiberglass)
Job Cost: $7,088
Resale Value: $4,528
Cost Recouped: 63.9 percent
7. Deck Addition (composite)
Job Cost: $34,403
Resale Value: $20,532
Cost Recouped: 59.7 percent
8. Major Kitchen Remodel
Job Cost: $107,406
Resale Value: $64,113
Cost Recouped: 59.7 percent
9. Bathroom Remodel
Job Cost: $50,007
Resale Value: $29,162
Cost Recouped: 58.3 percent
10. Roofing Replacement
Job Cost: $33,880
Resale Value: $19,194
Cost Recouped: 56.7 percent
Ending a six-year cost-value ratio decline, this year’s Cost vs. Value Report is good news for remodeling industry with a rise in the ratio by three percentage points to 60.6 percent. According to the report, lower construction costs and stabilizing house prices were the principal factors for the upturn.



2012-13 Cost vs. Value: Make the First Impression Count

About Me

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Rob Rosa, Berkshire Hathaway NE Prop.
My focus is helping people increase their lifestyle. I love my huge family and work tiredlessly to help them and my clients everyday. I have ben working in real estate since 2000. I have been awarded numerous Top Agent awards and am currently ranked in the Top 2% of the Berkshire Hathaway global network, over 52,000 agents. I am also the Founder and Instructor of Rubicon Crossings School of Real Estate: offering state of CT approved pre-licensing class, get info at http://ctrealestateschool.info. My extensive experience is: top producing sales and marketing executive focused on quality service and relationship building. Have over 30 year’s experience helping people in busines, including with two Fortune 100 companies; UPS, UHG and Berkshire Hathaway HomeServices: project management, mortgage lending, residential, commercial and franchise sales, property management and real estate education leader. I live in East Hartford, my office address is 1160 Silas Deane Hwy, Wethersfield, CT 06109 and I have been involved in many events in Rocky Hill and Glastonbury. I look forward to helping you every way I can.

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