Spring Home Renovations That Pay Off in 2019

Mar 29, 2019
Home Renovations

If you’re contemplating where to start renovations on your home this spring, you probably won’t be surprised to hear that exterior improvements that enhance curb appeal still rank among the home improvement projects that provide the best value for your money. From garden walkways with water features to ambient lighting and native trees, landscape design is generally an excellent area to place your focus, and your funds. But as you can infer from the 2019 Cost vs. Value Report from Home Remodeling magazine, you’d be well advised not to overlook upgrades on your home itself when considering the first impression your property creates. We’ve turned to this go-to source to give you the top five home renovations for the Pacific region of the U.S., based on an analysis of cost versus value:

Give your siding stately allure with stone veneer: Generally speaking, replacing your home’s siding is a cost-effective way to boost your home’s curb appeal while protecting it from moisture, mold and other forms of damage. Among midrange markets in the Pacific region, upgrading a home with new siding averages $18,409 and provides a resale value of $15,515, enabling homeowners to recoup about 84.30 percent of their costs. But embracing the recent trend for manufactured stone veneer could potentially deliver even better results in terms of value added. Also known as faux stone, this material emulates the look of natural stone and can provide a home’s exterior upscale flair.

As Money magazine explains in “The Trendy $9,000 Home Renovation That Practically Pays for Itself,” replacing a section of your home’s vinyl siding with manufactured stone veneer is an upgrade that’s become especially popular in West Coast states like California, Oregon and Washington. Among midrange markets in the region, removing a 300-square-foot band of vinyl siding from the bottom third of a house and replacing it with manufactured stone veneer costs an average of $9,507 and has a resale value of $10,499. With 110.4 percent of the cost recouped, it’s fair to say that, in some cases, this exterior upgrade can more than pay for itself.

Create a fiberglass grand entrance: A quick glance at the gorgeous front entrance pictured at The Family Handyman might offer some insight as to why it makes sense to invest in this focal point of your facade. For a striking look, consider Home Remodeling’s suggestion of removing your entry door to cut and reframe the opening, then installing a larger fiberglass entrance door with dual sidelights, threshold and an upscale locket (click here for details). At an average cost of $9,568 for upscale markets in Pacific Coast states and resale value of $8,147, this enhancement tends to recoup an estimated 85.10 percent of the initial outlay. Interested in more suggestions for how to make your front entrance more inviting? Find inspiration at “15 Stunning Front Doors” from Family Handyman.

Replace your garage door: You may have heard it before and it certainly isn’t scintillating, but you can substantially impact the curb appeal of your home with a new garage door. Moreover, replacing a garage door that is looking worse for the wear generates one of the highest returns of any home improvement project at resale. According to Home Remodeling’s 2019 report, a new garage door runs about $3,785 in upscale markets on the West Coast and has a resale value of $4,685 for 123.8 percent of costs recouped! In addition to its aesthetics’ value, a new door can provide an extra layer of protection against storms and winds, as well as home break-ins. Newer garage doors also provide better energy efficiency for your home and added safety features.

Install a deck: Turning to a more inspired feature that can provide a beautiful way to expand your living and entertaining areas outdoors, a deck made of wood or composite materials will significantly increase the long-term value of your home. Spring is a great time to build, not only because your deck can be ready to enjoy in the warm months of summer and early fall, but also because the softer ground makes it easier for the hand-digging that’s required for this project. For a wood deck, average costs are $16,511 in midrange markets located in the Pacific region of the country. With a resale value of $14,491, homeowners will average 87.80 percent of costs recouped. By comparison, a deck made from composite materials will cost more at the outset at $21,858, and offers a slightly lower return at a resale value of $18,392 (84.10 percent of costs recouped). On the other hand, composite decks require less maintenance and usually come with at least a 20-year warranty, and often a lifetime guarantee. Find an explanation on the pros and cons of both materials at The Spruce.

Update your kitchen: Topping the list of interior enhancements that pay off in terms of value added, a kitchen upgrade is a great place to put your money. Kitchen renovations do especially well in midrange markets in West Coast states, where owners tend to recoup 87.10 percent of total costs in resale value, as compared to 80.50 percent at the national average. Importantly though, this generally applies to a minor kitchen remodel, not gutting the entire room and adding custom cabinetry and cutting-edge appliances. A minor kitchen upgrade might involve replacing cabinet fronts with new shaker-style wood panels and new hardware, swapping out laminate countertops for stone, and replacing vinyl floors with resilient flooring. This type of remodel might also include new ceramic tile backsplash, energy-efficient, stainless-steel appliances and a new sink and faucet fixtures. And of course, painted walls, trim and ceiling will complete the fresh, contemporary new look.

Eager to get started on a home improvement project that will increase your home’s value and make it a more enticing place for entertaining in the warmer-weather months, but not sure where you will find the funds? SF Police Credit Union can help with our low, fixed-interest rate home equity loan. Use it to borrow between $20,000-$300,000, and pay it off in monthly installments over a specified term. Depending on your specific situation, you may also qualify for a tax break on the interest you pay on this loan (please consult your tax advisor). Whatever purpose you use it for, the SFPCU Home Equity Loan could be one of your least expensive borrowing options available. For details and to apply, visit http://bit.ly/HomeEquityLoansSFPCU.



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