According to the Remodeling Magazine, the following are the top five projects for the best return on investment in the Philadelphia area.
- Attic Bedroom Remodel
72.4% cost recouped
Homes with unfinished or unused attic space hold untapped potential. Converting this space into an additional bedroom not only allows the seller to market their home with an additional room, they were able to add space to their house without an addition. The blank pallet that can be provided by unused attic space creates the opportunity to really make an impact and add some substantial value to the home.
- Deck Addition (wood)
68.7% cost recouped
The outdoor living space of a home can be just as important as the interior, especially if there is no exterior living space. Having an outdoor space to entertain and relax is well worth the money spent—landing it in the number two spot for the Philadelphia area.
- Window Replacement (wood)
66.5% cost recouped
No one would argue that new windows are a bad thing, and this goes for the Philly region. Replacing the windows adds to the energy efficiency of the home, helping to lower heating and cooling costs. New windows can also help with the look of the exterior of the home, making even an older house look fresher.
- Entry Door Replacement (steel)
65.7% cost recouped
While some homeowners may be weary at the mention of a steel front door, they shouldn’t be. A steel door is both energy efficient and adds curb appeal—a win-win for exterior renovations. Steel doors come in a variety of designs and colors and can match any exterior décor. Overall an easy way to make a significant impact.
- Garage Door Replacement
65.2% cost recouped
With this renovation in particular, the report showed that going for an upscale garage door replacement, rather than a midrange replacement, would pay off in the end. In fact, a homeowner can get, on average, eight percent more of their investment back if they go in for the better quality garage door (a mid-range garage door replacement only showed an ROI of 57%).
If you would like to consult with Damon to determine if your home renovation project will return a high ROI, contact him today or call 610-731-9300.