Are you interested in remodeling your home? If so, you’ve certainly come to the right place. Pratt Remodeling is a family business that has provided a long-standing commitment to the Twin Cities home building and remodeling industry for over forty years. But, even if you know who you’d like to complete your remodeling project, it can be difficult to decide what project is best to complete.
Take a look at our post ‘Must Read Remodeling Tip # 1 – Think About the Future’ to gain some insight as to what projects will most benefit you in the long run. The rule of thumb is that unless you’re planning on living in your home for another 15 or more years, you don’t want to start any pricey remodeling projects that won’t give you a return on your investment when you decide to sell your home.
It can be difficult to determine which projects will give your home the highest value, and there are many variables to consider besides the cost of remodeling project itself. You should also consider the value of the room you’re replacing, if the next home owner will appreciate the remodel, how well the remodel will have maintained its value once you decides to sell the home, and more!
Remodeling.hw.net annually compares the average cost of 36 of the most popular remodeling projects with the value that those projects retain at resale among 102 of the top US cities. You can choose by the national averages or by region. Here’s a link to the averages in the region that Minnesota is a part of. Take a look at these averages to see how your intended remodeling project holds up.
Nationally the top projects based on the percent of the cost recouped are; an entry door replacement (steel) at 96.6%, a wooden deck additions 87.4%, and an attic bedroom at 84.3%. Other projects that ranked well were the following; a garage door replacement, a minor kitchen remodel, and a window replacement (wood).
Regionally the top projects based on the percent of the cost recouped are; an attic bedroom at 68%, a wooden deck addition at 68%, and a minor kitchen remodel at 65%. Other projects that ranked well were the following; a basement remodel, siding replacement, window replacement, and major kitchen remodel.
The top projects nationally are similar to those that do well in our region.
Replacing your entry way door with a steel replacement will not only add to your homes curb appeal, it will also make the home much more secure while you, and the next home owner, live in it. This project is one of the projects with the lowest cost, but also the highest return. Unfortunately this remodel doesn’t seem to do quite as well regionally as it does nationally but due to the low cost and security benefits, it’s still a great choice for a remodel project.
An attic bedroom. Making use of a space that is already there is always one of the most cost effective remodeling projects. Adding an attic room allows for larger families to consider the home, and with all of the cool ‘attic bedroom ideas‘ on pinterest, these rooms are becoming more and more popular.
Adding a wooden deck to your home is a great project as the deck will allow families to spend more time outdoors, something most families don’t seem to get much of these days.
A minor kitchen remodel is a great idea if your family enjoys cooking, or your kitchen is simply far to out of date, a minor kitchen remodel could be the answer. You don’t need to go crazy, but adding nice cabinetry and counter tops will take you a long way.