2019 is promising to be a “very hot” real estate market. According to Zillow’s home value index, the average Arizona home price is currently $252,700. That means it’s a good time to invest in home improvement projects, especially those with a high return on investment (ROI), such as garage door replacement or a minor kitchen remodel. Hiring a home inspector before and after making some home renovations is an excellent idea.
Here are four of the best home improvement projects with good cost-to-value ratios.
#1: Garage Door Replacement
Average Cost: $3,550
Return on Investment: 98.6%
If your existing garage door is in disrepair, outdated or uninspired, replacing it can boost curb appeal and property values. This project includes installing a new four-section 16×7 garage door. The new door is made with high-tensile strength steel, with two coats of factory-applied paint, and is foam insulated to a minimum of R-12. It also has ½-inch insulated glass panels, ball-bearing urethane rollers, and galvanized steel tacks and hinges. Replacing the garage door opener is not included in the ROI estimation.
#2: Manufactured Stone Veneer
Average Cost: $8,731
Return on Investment: 96.5%
An affordable alternative to natural stone is stone-veneer siding. There are many styles available that will lend visual interest to your home, thus, improving its curb appeal. The project involves replacing existing vinyl siding from bottom third of street-facing façade with manufactured stone-veneer in a color and style that compliments your home. Installation should include two layers of water-resistant barrier, corrosion-resistant lath and fasteners, and ½-inch-thick mortar scratch coat and setting bed.
#3: Minor Kitchen Remodel
Average Cost: $21,726
Return on Investment: 80.3%
Who doesn’t want an “Instagrammable” kitchen? If your existing space resembles that of a 1960s kitchen, yet it remains functional, then a smart alternative to a costly upgrade is a minor kitchen remodel. This project includes shaker-style wood cabinet panels and drawer fronts, new hardware and paint, and new energy-efficient cooktop/oven range combo and slide-in refrigerate. Also included is new countertops (out with the laminate!), new resilient flooring, and a new sink and faucet.
#4: Window Replacement (vinyl)
Average Cost: $16,340
Return on Investment: 71.3%
Home buyers want energy-saving features, like Low-E glass windows, according to the National Association of Home Builders (NAHB). Low-E, which stands for low emissivity, improves the thermal efficiency of the windows. That, alone, can help mitigate high heating and cooling costs. This project includes replacing ten 3×5-foot double-hung windows with insulated, low-E, stimulated-divided-light vinyl windows in your choice of exterior finish. Trim exterior to match the windows’ finish.
King Home Inspections guarantees thorough home inspections, every time. Our inspectors, who have extensive construction experience, only complete two inspections per day. This ensures 100 percent of the inspector’s attention is given to you and your home. Detailed computer-generated reports are always provided the same-day of the inspection. Request a home inspection appointment today at (602) 550-1913.
Resource(s): 2019 Cost vs. Value Report: Regional Data – Mountain