Remodeling Magazine recently released an article detailing the average Return on Investment (ROI) seen from over 20 remodeling projects, including: Basement Remodel, Bathroom Addition, Deck Addition (wood vs. composite), Entry Door Replacement, Major Kitchen Remodel, Window Replacement (vinyl vs. wood), and more. You can even choose to see these average ROI statistics for different regions, states and even large cities (such as Baltimore, MD; Cleveland, OH; Washington, DC; and Charlotte, NC).
This article proves to be useful, especially for people looking to sell their home, or invest in their home. Some projects experience a low ROI, such as a Bathroom Addition (at 54.8%) while others see a more generous return, such as Wood Window Replacement, at 73.3%.
While remodeling your home can sometimes seem daunting, this list will help put things into perspective for you, in terms of priority. It may even help you make a better choice. For instance, replacing your entry door with a new fiberglass one only yields (on average) a return of 65.9%. However, should you choose to replace your entry door with a new steel entry door, you would see an immensely higher return, at an average of 85.6%. (We meant it – this information is gold. Be sure you bookmark this article for future reference!)
Here at Window Nation, we provide replacement windows (wood, vinyl and fiberglass), replacement doors (entry, French and sliding), and vinyl siding. Our products rank high on this list by Remodeling Magazine, with the following ROI averages:
Entry Door Replacement (fiberglass) – 65.9%
Entry Door Replacement (steel) – 85.6%
Siding Replacement (vinyl) – 72.9%
Window Replacement (vinyl) – 71.2%
Window Replacement (wood) – 73.3%
In What Other Ways Do Remodeling Projects Yield a Return on Investment?
It’s no surprise that even the less expensive windows made these days are incredibly energy efficient. If windows in a home are 10 years or older, there is a good chance they’re cheap, builder-grade windows that are doing nothing but leaking expensive air conditioning and heating. These days, there’s major pressure on window manufacturers to perform to Energy Star standards, providing for extreme energy efficiency to be the new normal.
So what does that mean? It means that replacing the windows or doors in your home will provide for better energy efficiency by your home, thus lowering your energy bills. So, increasing the value of your home and lowering your energy bills doesn’t sound like a bad thing, does it?
Window Nation is a family owned and operated window replacement company proudly serving all of MD, VA, DC, NC and Ohio. For more information on replacement windows, new vinyl siding or entry door systems, please contact our team today!