According to the Remodeling 2015 Cost vs. Value Report (www.costvsvalue.com) compiled by Remolding Magazine, certain home improvement ideas and projects yield a better return on investment (ROI) than others in Miami. The report compares the average price of 36 popular midrange and upscale remodeling projects with the value the upgrades retain at resale. Here are the four projects that will give you the most ROI when it comes time to sell your Miami property:
1. Entry Door Replacement
When you decide to sell your property, potential buyers will form an opinion of your home’s interior when they step through the front door. By replacing this feature with a 20-gauge steel door that features clear dual-pane, half-glass panels, new jambs and an aluminum threshold with a composite stop, you can expect to spend approximately $1,174. The door should be factory finished, with the same color on both sides, and fitted with a brass or antique brass lockset. This upgrade yields a value of $1,439 at resale, fo a 22.6 percent ROI.
2. Garage Door Replacement
Updating your 16 x 7 garage door with a four-section garage door on stainless steel tracks is a project that’s worth completing, and will cost approximately $1,526 if you use an existing motorized opener. Choose a door made of embossed steel and a single layer of insulation that’s finished with nylon rollers and galvanized steel hinges. When paired with a 10-year limited warranty, this remodeling project will be valued at $1,652, for an 8.3 percent ROI.
3. Siding Replacement
Updating your home’s exterior can help to protect your property, and may provide a high ROI. Adding foam-backed vinyl, including factory trim around all openings and corners, generates a 3.3 percent ROI. This data was calculated based on 1,250 square feet of siding installed at a price of $14,319 in the Miami area.
4. Upscale Window Replacement
To get the most value from upgrading your windows, try choosing premium-grade vinyl replacement windows that have a simulated wood-grain interior finish and a custom color exterior finish. By replacing your old windows with 10 three-by-five double-hung insulated windows filled with low-e argon gas in a divided-lite style, you could spend about $13,277 and see a 10.8 percent ROI.
When deciding which home improvement ideas to tackle before listing your Miami property, consider which improvements boost the value of your home the most. From windows and doors, to brand-new siding, you can’t go wrong with updating these features of your home in order to improve its appearance, security and efficiency.
© 2015 Hanley Wood, LLC. Complete data from the Remodeling 2015 Cost vs. Value Report can be downloaded free atwww.costvsvalue.com.
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