The Top Five 2014 Home Projects That Yield High Returns
Good news for those considering a home remodeling project this year: every one of the 35 popular remodeling projects cited each year by Remodeling Magazine has seen the cost versus value ratio climb between 2013 and 2014, according to the magazine’s 2014 Cost versus Value Report. Nationally, the ratio increased the most this year since 2005. Rising home resale value is attributed for this overall improvement, offsetting a modest increase in national construction costs.
Below are the top five projects to provide returns on their investments for the Richmond, Virginia region.
Project Job Cost Resale Value Cost Recouped
Bathroom Remodel $14,711 $16,183 110.0%
Entry Door Replacement (Steel) $1,093 $1,096 100.3%
Garage Door Replacement $1,430 $1,428 100.0%
Window Replacement (Wood) $10,234 $10,156 99.2%
Window Replacement (Vinyl) $9,347 $9,039 96.7%
For access to the full 2014 Cost versus Value Report, visit remodeling.hw.net. Look for more Richmond housing trends in the quarterly electronic publication, The Housing Interpreter, at WeAreTheR.com/Interpreter.