Written by Joe Mazzi on . Posted in Articles

How Did the Cost vs. Value Ratio in Wayne Home Improvements Change Between 2015 and 2016?

Home Improvement in WayneOne of the most common concerns among homeowners looking at home improvement in Wayne is whether the expenditures they make will positively impact their home’s resale value. Anyone who is concerned about their home’s value wants to make the best possible investments in its future.

Obviously, resale value is a very complicated topic. However, based on new statistics from industry resource Remodeling Magazine, we look at some of the major trends in cost vs. value for home improvement in Wayne.

Examining Home Improvement Cost/Value Ratios in 2016 vs 2015

First, we would be remiss if we failed to mention that rarely do home improvements bring in 100% of their installation costs during resale.  

Generally, the improvements that might be worth more in resale are those which directly impact the costs of home-ownership in the long run. Better windows, doors, or especially insulation can sometimes increase the aggregate sale price of a home. The lower energy bills these items allow add significantly to their value.

In nearly all other cases, simple depreciation means that you will lose some value on your renovations.  

What additions proved to be best at holding most of their value in 2016? Here are five of the top options from the list:

  • Stone Veneer:  At a 94.5% recoupment rate, manufactured stone veneer comes close to full payback. The reason for this payback is undoubtedly due to how long-lasting and durable stonework can be.
  • Replacement Garage Doors:  In both midrange and high-end homes, garage doors held around 90% of their value.
  • Steel Entry Doors:  Again, likely due to durability and aesthetics, new entry doors tended to bring in over 87% of their costs. Fiberglass doors typically bring in 74%.
  • Kitchen Remodeling:  Minor kitchen upgrades bring in around 75% of initial costs, which is still a good value because you will personally enjoy the upgrades, which could range from upgraded floors to custom tiling.
  • Wooden Deck Additions:  Decks can be expected to recoup around 71% of costs, being both beautiful and useful, as well as adding outdoor living space.

What Does the Data Mean for Those Considering Home Improvement in Wayne?

First, the best home improvements are those you want to do to improve your own quality of life. Beyond that, the most effective additions are those which either lower energy costs, or add substantially to the home’s aesthetic or utility value over the long term. Such upgrades hold their value better than other short-term or “hidden” renovations. 

Call Mazzi to Discuss Home Improvement Options

Mazzi Contractors has been providing contracting services for over 30 years and our contractors are skilled at all types of home improvement in Wayne and other Main Line communities in the Philadelphia area. Contact us today for a free consultation!

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