Are You Getting Bank for the Buck on Your Home Replacements?
February 9th, 2010 Categories: Real Estate News
In our two previous articles, we talked about getting bang for the buck on home additions and home renovations. Today we are going to talk about getting bang for the buck on key home replacements.
I promise we didn’t plan it this way but with the unprecedented snows over the past week, the replacement of roofing, siding and even windows is an appropriate consideration.
The statistics show that mid-range, as opposed to up-scale, home additions, renovations and replacements deliver the most value in today’s economy.
An exception to that rule however is fiber-cement siding replacement and vinyl window replacement.
The average cost of fiber-cement siding is more than $13,000 but its return on investment reached 83.6 percent. The average cost of vinyl window replacement is nearly $14,000 and it generates an average return of 76.5 percent.
Our numbers are taken from this month’s issue of Remodeling Magazine and their annual “Cost vs. Value” report.
The cost data are generated by gathering current cost information from a nation wide network of remodeling contractors and suppliers. The model then uses an adjustment factor for regional price differences.
For more on how to get bang for buck in Alexandria and Northern Virginia, call me at 703.927.4554 and let’s talk houses.
Michael
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Interesting computation for window replacement. This is a great investment to reduce energy consumption and the same goes for window tints. For 15%-25% of the cost of window replacement, anyone can reduce solar heat gain on existing dual pane windows (which are already good for winter). Of course, if you have single pane windows you need to replace those. You can find out more about window film at http://www.TintBuyer.com, like most window films are for reducing solar heat gain in the summer, low-e films both block summer heat and improve winter heat retention. In http://www.TintBuyer.com, buyers get to be in control when buying the “right tint” because the company makes sure that they are well-informed with the things to consider when buying tints.
[...] Window replacement is one of the best home remodeling projects in terms of investment return: for vinyl windows, you can recoup about 75% of the project cost in added home value, according to Remodeling Magazine’s annual cost analysis. [...]