Some home improvement/repair projects are necessary regardless of cost, such as installing a new hot water heater when the old one stops working. Others, such as updating the kitchen or windows, are more a function of having the money to do so-and how much they add to a home’s value when it comes time to sell.
According to the most recent “Cost Vs. Value Report” published by Remodeling magazine, the most cost-effective remodeling job is redoing the bathroom, with an estimated 102.2 percent of costs recouped in the home sale. But the number-two project may surprise you: siding replacement.
The report found that, when mid-range siding products are used, homeowners can expect to get 95.5 percent of costs back when they sell. For upscale siding, the expected payback is even higher: 103.6 percent.
And while many indoor projects have fluctuated in their overall value-between 2002 and 2005, bathroom remodels have recouped as little as 79.1 percent of costs-siding has been a relatively steady earner, increasing in value each year over that period.
In addition, since the exterior of your home is the first thing people see, the charm and...
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