Every year I post a blog on “Bang for your Buck” remodeling ideas. It’s a way to add value to the homeowner and the truth is most folks I know are tinkering with some home project, for one reason or another. The report, Key Trends in the 2021 Cost vs. Value Report is a good resource, targeted per region in the US. It comes out every year.
The report’s goal is to give homeowners objective reporting on how much it costs for a professional (not DIY) to complete a project and then how much real estate professionals believe the project will increase a home’s value if it is sold within a year of project completion. The report calculates bang for your buck by dividing the project’s value into its cost.
According to the 2021 Cost vs. Value Report (www.costvsvalue.com) this year’s top value-add improvements for the Denver Metro area include:
- Garage door replacement—it’s one of the first things that the Buyers notice when they pull up to the home (along with the front door)
- Siding replacement as well as manufactured stone veneer facades
- Window replacement (vinyl or wood)—windows often get called out during inspection- whether they need to be replaced or fixed. These can be high-ticket items that could make or break a home sale
- Minor kitchen remodel—change out your countertop material, backsplash, sink, appliances, cabinet facades with new hardware, fresh paint and flooring
- Deck addition—wood or composite, though wood get hits hard in Colorado winters and summers
On the flip side, what are the projects with the worst returns? For general trends, read here Cost vs. Value 2021 | Mountain Region | Remodeling (hw.net) Then get more specific in the drop down menu with region—Mountain—Cost vs. Value 2021 | Denver, Colorado | Remodeling (hw.net) ©2021 Zonda Media, a Delaware corporation. Complete data from the 2021 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.
