North Shore Views

Remodeling Projects with Highest Return on Investment

Remodeling Magazine recently released its 2011 Remodeling Cost to Value report, which shows the projects that tend to yield the highest return on investment. Gone are the days when huge kitchen remodels and additions would more than pay for themselves. These days the return has  people are opting for more modest improvements and replacement projects.

1. Replacing the entry door to steel

Estimated cost: $1,238

Cost recouped at resale: 73%

2. Attic bedroom (converting unfinished attic space into a bedroom with bathroom and shower)

Estimated cost: $50,148

Cost recouped at resale: 72.5%

Although this is an expensive project, it continues to provide high value, as it is a way to add a bedroom and bath within the existing footprint of the house.

3. Minor kitchen remodel (including new cabinets and drawers, counter tops, hardware, and appliances)

Estimated cost: $19,588

Cost recouped at resale: 72.1%

4. Garage door replacement

Estimated cost: $1,512

Cost recouped at resale: 71.9%

5. Deck addition (wood)

Estimated cost: $10,350

Cost recouped at resale: 70.1%

6. Siding replacement (vinyl)

Estimated cost: $11,729

Cost recouped at resale: 69.5%

Tags: remodeling

What’s Hot and What’s Not in Housing

My, how things have changed. A lot of those things that were all the rage just a few short years ago have fallen out of favor, thanks to the convergence of three major trends: the recession, the green movement and the aging of the baby boomers (and coming of age of the echo boomers).  Like Hummers, McMansions are now being shunned by many as crass and wasteful. Even the ubiquitous granite counter tops are losing their cache in favor of other materials like quartz, soapstone, slate and onyx.

Here’s my run-down of what’s hot and what’s not in housing and home design today:

What’s Hot: Bargain hunting for homes.
What’s Not: Over-paying with the expectation of continued appreciation

What’s Hot: House as home
What’s Not: House as investment

What’s Hot: Right-sizing
What’s Not: McMansions

What’s Hot: Pragmatic and flexible living spaces
What’s Not: Specialized rooms for each activity (media rooms, exercise rooms, etc.)

What’s Hot: Remodeling within home’s existing footprint
What’s Not: Huge additions

What’s Hot: Quality finishes
What’s Not: Wasted space

What’s Hot: Eco-friendly materials and building solutions
What’s Not: Over the top bathrooms with chromatherapy tubs, steam showers, gold fixtures

What’ s Hot: Authenticity
What’s Not: Faux

What’s Hot: Living closer to urban areas, with a smaller home, a shorter commutes and more free time
What’s Not: Living far out, with a huge house, a long commute and no free time

What’s Hot: Nine foot ceilings
What’s Not: Two story foyers and soaring cathedral ceilings

What’s Hot: Basement remodels
What’s Not: Oversized garages that dominate the facade of the house

What’s Hot: Outdoor rooms – Building decks and patios as an inexpensive way to add living space
What’s Not: Mixing multiple architectural styles in one house

So what do you think? Please feel free to disagree or add your own “what’s hot/what’s not” trends to this list.

Tags: home design trends, remodeling, what's hot and what's not in housing