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How to pick a remodeling project that actually pays off

How to pick a remodeling project that actually pays off

How to pick a remodeling project that actually pays off
News from Bangor Daily News:

When you consider which home remodeling projects to tackle and which ones to shelve, it is wise to think about the payback potential. Which projects will increase the value of your home enough to recoup your investment potentially?

Remodeling Magazine recently completed its 2015 lists of remodeling values, broken down by the type of project and geographic market. Thirty-six projects were compared in over 100 markets, making this the most comprehensive remodeling payback guide available.

People tend to associate remodeling with kitchen or bath makeovers, but neither project provides the greatest return on investment. Upscale kitchen and bathroom remodeling recouped in the 59 to 60 percent range of costs, rising to 67 to 70 percent for midrange projects.

In general, to recover your costs on a project, smaller is better. Four of the 36 projects were estimated at less than $ 5,000 (for professionals), and three of those were in the top five for return on investment. Those were entry door replacement with a steel door (101.8 percent return), and midrange and upscale garage door replacements at 88.4 percent and 82.5 percent return, respectively.

The other two high-return projects were in the next tier of expense ($ 5,000 to $ 25,000). The addition of a manufactured stone veneer returned 92.2 percent on a $ 7,150 cost while an upscale fiber-cement sidi…………… continues on Bangor Daily News

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Related News:

GHBA Remodelers Council: Give some thought to ins, outs of bathroom remodel
News from Chron.com:

Published 11:14 am, Friday, July 17, 2015

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