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REALTORS® rate exterior replacement projects as having biggest return on investment

Wednesday, January 30, 2013

According to the 2013 Remodeling Cost vs. Value Report, REALTORS® rated exterior projects among the most valuable home improvement projects. Projects such as siding, window and door replacements can recoup more than 70 percent of their cost at resale, according to REALTORS®.

Results of the report are summarized on NAR's consumer website HouseLogic.com, which provides information on dozens of remodeling projects, from kitchens and baths to siding replacements. According to the Cost vs. Value Report, REALTORS® judged a steel entry door replacement as the project expected to return the most money, with an estimated 85.6 percent of costs recouped upon resale. The steel entry door replacement is the least expensive project in the report, costing little more than $1,100 on average.

Three different siding replacement projects ranked in the top 10, namely fiber cement siding, expected to return 79.3 percent of costs; vinyl siding, expected to return 72.9 percent of costs; and foam backed vinyl, expected to return 71.8 percent of costs. Midrange and upscale garage door replacement were both expected to return more than 75 percent of costs.

Two interior remodeling projects in particular can recoup substantial value at resale. A minor kitchen remodel is ranked fifth and is expected to return 75.4 percent of costs. The second interior remodeling project in the top 10 is the attic bedroom, which landed at number eight and tied with the vinyl siding replacement with 72.9 percent of costs recouped. The improvement project projected to return the least is the home office remodel, estimated to recoup less than 44 percent.

The 2013 Remodeling Cost vs. Value Report, which is produced by Remodeling magazine publisher Hanley Wood, LLC and completed in cooperation with NAR, compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 81 markets across the country. REALTORS® provided their insights into local markets and buyer home preferences within those markets.

"REALTORS® are the best source for helping homeowners decide what remodeling project brings the best value to their home because they see many homes every year and can provide valuable insight into what types of improvements can make a difference with buyers. They also are knowledgeable about what types of improvement projects are permitted and regulations involved in your particular area," said Carolyn Miller, president of the Silicon Valley Association of REALTORS®.

To read the full project descriptions and access national and regional project data, visit www.costvsvalue.com. "Cost vs. Value" is a registered trademark of Hanley Wood, LLC.


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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