According to Realtormag.org, a new roof has the greatest remodeling value.
See full story: 2015 cost recovery
The two main reasons home owners remodel are to increase the home’s value and for greater enjoyment of the home with little overlap between these two goals.
Several interior and exterior projects were examined. Interior projects examined in the study include: master suite, kitchen upgrade, bathroom renovation, basement conversion to living space, insulation upgrade, closet renovation, new wood flooring, HVAC replacement.
The top five interior improvements that appeal to buyers and likely to have most recovery cost at the sale are:
- kitchen upgrade 67%
- complete kitchen renovation 67%
- bathroom renovation 58%
- new wood flooring 91%
- add new bathroom 52%
The top five exterior improvements with the greatest remodeling value:
- new roofing 105%
- new vinyl windows 80%
- new garage door 87%
- new vinyl siding 83%
- new wood windows 58%