Homeowners are focused on which home jobs will give them the best bang for the buck: the trade should be doing the same thing.
Home improvement projects run the gamut from quick fixes to full-blown remodels but a new survey from Ace Handyman Services found that certain ones give homeowners the best return on their investments. For builders, contractors and others in the remodeling trade, the study results provide guidelines for focusing their efforts. Many of the projects cited involve jobs using wood.
The Ace study compared the average job cost with the corresponding resale value that was added to the home using a formula that takes into account a wide variety of projects and their associated expenditures.
The number-one home improvement project ROI comes from replacing a garage door. At an average job cost of $4,672, a new garage door adds $12,507 to the resale value of a home at a 268% return on investment.
Other home improvement projects of interest to the woodworking trade are: sand and refinish hardwood floors at an average cost of $3,400 yielding an added value of $5,000 for a 147 percent ROI; new wood deck, with a ROI of 95 percent; replace wood windows providing for a ROI of 70 percent; and closet remodels with ROIs in the 55 to 60 percent range.
Other top home improvement project ROIs were gained through lawn care (269 percent), replacing steel entry doors (216 percent) and installing manufactured stone veneers (208 percent).
The study focuses on smaller home jobs and does not include major remodeling projects like new kitchens and baths.
