Will your home improvements pay off?

Planning some home improvement projects in the future? Which projects will give you the best return on your investment? In Alaska, and its fellow Pacific Region states, homeowners can plan to recoup considerably more of their costs for some projects than others, according to the Remodeling 2020 Cost vs. Value Report (costvsvalue.com).

The annual report provides an in-depth look at the return on investment (ROI) of common remodeling projects. This year’s analysis compares average costs for 22 remodeling projects with the value those projects retain at resale in 101 US markets.

In Alaska, and other Pacific Region states, the highest return in home remodeling projects comes from replacing the garage door – at 103 percent (cost recouped) in Anchorage and 117 percent for other Pacific states. The next highest return is for vinyl siding replacement – at 93 percent in Anchorage and 75 percent for other Pacific Region states. The lowest ROI projects for midrange and upscale homes in Anchorage are bathroom additions at 32-33 percent.

Here are the top remodeling projects with Alaska’s best ROI, according to the Remodeling 2020 Cost vs. Value Report:

Deck addition

New decking adds new life to a home’s outdoor space and returns between 45 percent (for composite) and 50 percent (for wood) of the money spent to do the job. This deck addition is based on a project cost between $19,675 and $22,756 with an estimated return of between $9,750 and $10,250.

Vinyl siding replacement

Fresh siding can help make an entire home feel new – and make a big impression on buyers. According to the report, the local average cost recouped is 93 percent of the money spent on the job. This siding replacement job cost $17,306 for 1,250 square feet, with returns at an estimated $16,000.

Entry door replacement

A new front door is a great means of adding value to your home without spending a lot of money. In Anchorage, replacing your entry door with a new 20-gauge steel door has an average ROI of 93 percent. This steel door job is based on a steel unit that includes a clear, dual-pane half-glass panel, jambs, and aluminum threshold with composite stop. Door is factory finished with same color on both sides. The job cost $2,072 with a resale value of $2,000.

Bath remodel

A bathroom remodel for a midrange home returns 53 percent of the cost. In this 5x7-foot bathroom job, all fixtures are replaced, including a 30x60-inch porcelain-on-steel tub with 4x4-inch ceramic tile surround, new shower controls, a standard white toilet, a solid-surface vanity counter and sink, medicine cabinet with light, vinyl wallpaper, and ceramic tile floor. This job cost $25,321 with a resale value of $13,333.

Minor kitchen remodel

A simple kitchen refresh on a midrange home returns 54 percent of the cost. In this 200-square-foot kitchen project, the cabinet boxes were left in place, but the fronts were replaced with new shaker-style wood panels and drawer fronts, plus new hardware. Other updates included replacing the cooktop/oven range and slide-in refrigerator with new energy-efficient models, and installing new laminate countertops and resilient flooring. This minor remodel is based on a project cost of $25,678 with a return
of $13,750.

Garage door replacement

For curb appeal, it’s hard to beat a stylish, new garage door. That’s probably why this $3,869 investment returns a whopping 103 percent or an estimated $4,000 resale value. The project analyzed is for the removal and replacement of a 16×7-foot garage door and tracks. With its lifetime warranty, the new door is made with high tensile-strength steel with two coats of factory-applied paint, is foam insulated to minimum R-12, and includes thermal seals between pinch-resistant panels. Windows in top panel are ½-inch insulated glass. Hardware includes galvanized steel hinges and ball-bearing urethane rollers.

Manufactured stone veneer

For more curb appeal, upgrading a home’s exterior with manufactured stone veneer proves to have a high return on investment for homeowners, recouping a national average of nearly 96 percent of the project cost at the time of the home sale. In Anchorage, the report shows a 79 percent return, delivering $7,833 on a $9,945 investment. The estimated project cost is for removing a 300-square-foot band of existing vinyl siding and replacing it with adhered manufactured stone veneer, including 36 linear feet of sills, 40 linear feet of corners, and an outline entry archway.

Rounding out home improvements that return above 50 percent are: grand entrance door (fiberglass) – 68 percent; roofing replacements – 60 percent (asphalt shingles) and 59 percent (metal); universal design bath remodel – 56 percent; window replacement (vinyl) – 52 percent; and master suite addition (midrange home) – 50 percent.

For more information on the Remodeling 2020 Cost vs. Value Report, visit costvsvalue.com.