Homeowners looking for a way to increase their return on investment (ROI) have a variety of different options, but the best long-term options are oddly related: all of them relate to home entrances and windows. These low-cost investments in your home are top choices for improving your home’s ROI. The industry trade publication, “Remodeling,” performs an annual study on the relationship of cost to ROI for popular home remodeling projects, and one thing is clear: replacing doors and windows is the most straightforward and cost-effective way to improve your home’s ROI. These three changes can improve your home’s ROI in the most cost-effective way possible.
Get a New Front Door, And Make Sure It’s Steel
Of all the remodeling projects that homeowners can choose to invest in, the simplest and most effective in terms of ROI is, believe it or not, the front door. With a national average of 96.6 percent of costs recouped, replacing your front door with a steel front door is not only one of the simplest projects that a homeowner can take on, but it’s also one that consistently retains its value! (In the Southwest, the rate of return is actually 101.1 percent, meaning that installing a steel door will automatically raise your home’s value.) It’s also important to note that while fiberglass door installation is popular, it consistently produces a rate of return that this 20 percent lower or worse than a steel door. Couple that with the fact that the average job cost is lower for a steel door, and there’s no question that steel will get you a better return on your investment.
Replace Those Windows
In terms of cost and passageways, window replacement is the most expensive home improvement you can do without going into the full interior or exterior remodeling on average because many passages (the windows) are being replaced on aggregate. The advantage of window replacement, however, is that it can be done in stages, breaking the total cost into smaller parts. It’s a good idea to review your windows and see what types of windows would work best with your home design. While nationwide averages indicate that wooden windows produce a slightly better ROI than vinyl ones, the difference between the two is negligible, and the opposite is true in the Southwest. While there are advantages and disadvantages to either choice, both wood and vinyl replacement windows will improve your home’s value, and the percentage of cost recouped hovers between 75 to 80 percent. Fiberglass windows are increasing in popularity and are slightly cheaper than wooden ones, but they are still at about 5 percent of the market: wood and vinyl remain the most popular choices.
Repair or Replace Your Garage Door
Moving back to entrances, the most obvious entrance beside your front door (and often more so, as it’s larger) is the garage door. And once again, national and local statistics back up a simple fact: a garage door replacement is as cost-effective as replacing your front door, and has a return on investment that rivals replacing your windows. However, repairing a garage door is always an option that can increase your ROI without going for a total replacement. Due to its size, sometimes repairing or improving a garage door can do wonders for your home’s ROI without breaking the bank. Experts in affordable garage door repair can help you decide whether repairing or replacing your garage door is the best option for increasing your home’s ROI.