Adding Value

to a Home:

Recent Trends

in Home

Remodeling

MN Property Group

2605 Campus Drive

Minneapolis, MN

55441

(763) 300-2702

Homeowners who plan to sell their homes rely heavily on various remodeling projects to

increase the value of their homes. Some renovations are valuable enough to give the

owner full return on investment once he sells the property, while others may not have a

huge payback but can enhance the position of the home in the market.

In 2015, the National Association of Realtors released a report about the recent trends in

remodeling projects. The report found that large-scale remodeling jobs are not valuable

and homeowners should focus on the following additions:

1. Entry Door Replacement

On the average, a homeowner spends about $1,230 for a steel door replacement. In the report, this

low-cost remodeling project was the least expensive on the list, but it ranked number one on the

payback scale. The report revealed that entry door replacements returned around 101.8% of the

project cost, while midrange garage door replacements returned about 88.5%.

2. New Siding and Wall Cladding

Wall cladding does not only make a home more beautiful, but it also adds value to the

property. The report found that installing manufactured stone veneers on either the

exterior or interior walls of a property ranked second on the payback scale, with an

average return of 92.2%. Siding replacements, such as installing fiber cement in the

house siding, are also valuable remodeling projects with an average payback of 84.3%.

3. Kitchen Remodeling

The report found that kitchen remodeling was still valuable. Many homeowners gave

their kitchens a revamp before putting their homes on the market. The report revealed

that a minor kitchen remodel averaged 79.3% in ROI.

These remodeling jobs are beneficial to any homeowner who wants to sell his house.

The report, however, also pointed out that other factors, such as the quality of the job,

the updates typical for a particular neighborhood, and the significance of the

improvement to a certain buyer, may also affect the returns of various remodeling

projects.

RESOURCES:

http://mnpropertygroup.com

http://realtormag.realtor.org/home-and-design/cost-vs-

value/article/2015/01/2015-remodeling-cost-vs-value-

less-more

http://www.remodeling.hw.net/cost-vs-value/2015