The sluggish housing market is keeping us in our homes longer. Remodeling our home is becoming the choice for many. So taking a look at the projects that give us the most bang for our buck makes sense. According to Cost vs. Value report for 2012 the research shows that maintenance, repair, and replacement projects take precedence with homeowners. Cost vs. Value data confirm that once again this year, replacement projects continue to perform better in resale value than other types of remodeling projects. Seven of the 10 top-ranked projects are siding-, window-, or door-replacement projects and their cost-value ratio is an above-average 71.6%.
The high value of replacements is partly due to their relatively low cost — with the exception of the roofing projects, all replacement projects are priced at less than $19,000. In addition, most replacement projects immediately improve curb appeal, and the use of durable, low-maintenance replacement materials appeals to home buyers who increasingly are looking to reduce both the operational and maintenance costs of their homes.
If you are staying in your home, it may be the right time to take a look at some of these exterior remodeling projects that will add value to your home and save you money in the long run.