Cost vs. Value 2016 - Kitchen Remodel tops list!

As a homeowner, how do you know what your Return On Investment (ROI) is for different home renovation projects?  Are you going to pay more than your kitchen remodel is worth?  What is the value of upgrading a minor or midrange remodel project to an upscale project?  Should you replace your garage doors or just do minor repairs and paint/stain them?  How much does an addition cost and will you get your money back if you sell the house?

The numerous and possibly ambiguous answers (depending on your source of information) can be misleading and confusing.  We are aware of the weight and significance of these questions to our clients and do our best to help answer them. One good, reliable source of information is Remodeling's Cost vs. Value Report (www.costvsvalue.com).  The organization publishes the report yearly and is specific to region or metro areas.  Check out the top results for Portland, OR below.

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Top 4 ROI Projects for Portland

#1 - Minor Kitchen Remodel
$20,808 approx job cost

Numero uno in Portland?  Kitchen remodels!  This is obviously a great return on investment.  The data indicates that the cost recouped on a minor ktichen remodel is 111.5% of the cost of the project!  This is great news for homeowners considering a kitchen remodel - and is consistent with what we have seen come true for our clients when they sell their homes.  If you are looking at actual dollars, this ROI equals an average of $23,197 in resale value.

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#2 - Manufactured Stone Veneer
$7,512 approx job cost

Coming in second is manufactured stone veneer.  Note that the approximate cost of this type of project is only $7,512 and the ROI is 101.4%!  This is a great choice to get some bang for your buck when thinking about selling your home in the near future.  Stone veneer projects can dramatically change the look of interior and exterior surfaces in a very short amount of time.

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#3 - Garage Door Replacement
​$1,718 approx job cost

Replacing your garage doors could net you a 94.2% ROI.  This is another great option for increasing the resale value of your home, and changing the overall exterior impression.  These unique and classy doors would totally get home seeker's attention on a home listing website!  The data says the approx job cost is $1,718 but the percentage of cost recouped stays fairly consistent: if the project cost goes up to $3,148 you are talking about a 98.1% ROI. 

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#4 - Attic Insulation (fiberglass)
$1,289 approx job cost

Attic Insulation can bring a 94% ROI for your home.  This project can take just a few hours and can result in increased energy efficiency and lower utility bills.  Try using an Energy Savings Calculator such as this one from CertainTeed to see what your savings could be.  We would be happy to quote attic insulation along with a larger project such as a kitchen or bath remodel.

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For more details and in depth information, check out the full report for your region and/or metro area here. To schedule a consultation or receive an estimate, call us at 971-223-2844 or e-mail jlhomerenewal@gmail.com.  

Remember, we are offering a GREAT bonus with kitchen remodels in April & May!  More details here.