8 exterior home remodels: Which adds the most value?
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8 exterior home remodels ranked
Real estate agents are always telling home sellers to improve their home’s curb appeal. But what are the most cost-effective exterior home remodeling projects?
Remodeling magazine surveys experts every year to determine the return on investment of a slew of common home renovations performed by professionals. According to the Remodeling 2017 Cost vs. Value Report, the best return comes from projects that make the house look good from the outside. Best of all, you can finance these projects with a home equity line of credit.
We showed you six interior home remodeling projects that give the highest return on investment as well as five interior remodels with the lowest return. Here are eight exterior projects, ranked from the worst bang for the buck to the best, according to Remodeling’s 2017 Cost vs. Value Report.
No. 8: Backup power generator
- Average cost: $12,860
- Average resale value: $6,940
- Cost recouped: 54 percent
The project on this list with the worst return on investment is the one that won’t look pretty, no matter hard you try to beautify it. But a propane-powered generator is handy after a hurricane. According to the Remodeling 2017 Cost vs. Value Report, this project had a better resale value shortly after Superstorm Sandy. The resale value has gone down ever since. Consider paying for this project with a home equity line of credit.
No. 7: Backyard patio
- Average cost: $51,985
- Average resale value: $28,546
- Cost recouped: 54.9 percent
Workers build a 20-by-20-foot flagstone patio in the backyard with a gas fire pit in the center, and covered by a cedar pergola. They install sliding doors in the house to reach the patio.
No. 6: Composite deck addition
- Average cost: $17,249
- Average resale value: $11,252
- Cost recouped: 65.2 percent
Nothing fancy: Add a 16-by-20-foot deck of composite material in a simple linear pattern, with three steps to the yard. Railings all around. Finance through a home equity line of credit.
No. 5: Roofing replacement
- Average cost: $20,664
- Average resale value: $14,214
- Cost recouped: 68.8 percent
A new roof is one of the few projects on the list that aren’t optional. When you need one, you need one. This hypothetical project involves disposing of the old roof and installing 30 squares of fiberglass asphalt shingles, plus trim. This expensive, but necessary, home improvement can be paid for with a home equity line of credit.
No. 4: Wood deck addition
- Average cost: $10,707
- Average resale value: $7,652
- Cost recouped: 71.5 percent
Adding a 16-by-20-foot wood deck gives you a better return than a composite deck. The boards are arranged in a simple linear pattern and a three-step stairway leads to the yard, with railings all around.
No. 3: Siding replacement
- Average cost: $14,518
- Average resale value: $11,093
- Cost recouped: 76.4 percent
The home’s existing siding is replaced with 1,250 square feet of new siding, along with factory trim at all openings and corners. Pay for it by using your home’s equity.
No. 2: Garage door replacement
- Average cost: $1,749
- Average resale value: $1,345
- Cost recouped: 76.9 percent
If you live in suburbia, the garage door might be the most prominent feature of the house, as seen from the curb. This project replaces the garage door with a single-layer steel door and reuses the opener.
No. 1: Manufactured stone veneer
- Average cost: $7,851
- Average resale value: $7,019
- Cost recouped: 89.4 percent
Of the exterior remodeling projects on this list, adding manufactured stone veneer gives the best return on the money you spend. It entails replacing the bottom third of the street-facing façade with faux stone siding and outlining the front door attractively. Like a new front door, this improves curb appeal. Use a home equity line of credit to finance the project.