For those homeowners that are “on the fence” about moving ahead in replacing their home’s existing roofing, siding and windows this year, the beneficial data revealed in Remodeling Magazines 2014 Cost vs. Value Report should reassure you that now is the time! This well respected resource compares average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. The data is revealed on a national level, as well as being broken down regionally within the US. Here is a look at where the rate on investment (ROI) comes in on the national level on both upscale and midrange projects:
- Siding Replacement:
1) Upscale Siding Replacement using Fiber Cement Siding (such as Hardie Plank) shows a cost recoup of 87% — These numbers reflect a project consisting of replacing 1,250 square feet of existing siding with new fiber-cement siding, factory primed and factory painted. Including all 4/4 and 5/4 trim using either fiber-cement boards or cellular PVC.
2) Upscale Siding Replacement using Premium Foam-Backed Vinyl Siding shows a cost recoup of 78.1% — These numbers reflect replacement of 1,250 square feet of existing siding with new foam-backed vinyl siding, including factory trim at all openings and corners.
3) Midrange Siding Replacement with Vinyl Siding shows a cost recoup of 78.2% — These numbers come from a project entailing replacement of 1,250 square feet of existing siding with new vinyl siding, including all trim.
- Roofing Replacement:
1) Upscale Roofing Replacement reflected a cost recoup of 63% — These numbers reflect a project consisting of removal of existing roofing to bare wood sheathing and disposing of properly. Installation of 30 squares of standing-seam metal, formed on site into 16-inch panels using factory-enameled roll steel; double-lock all seams, using custom brake-bent flashing from same material for drip edge and all flashing at roof-wall intersections. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge. Applying over new felt underlayment; using ice-and-water membrane at eaves, valleys, and all penetrations.
2) Midrange Roofing Replacement reflected a cost recoup of 67.6% — Based on a project that includes removal existing roofing to bare wood sheathing and proper disposal. Installation of 30 squares of 235-pound fiberglass asphalt shingles (min. 25-year warranty) with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge.
- Window Replacement:
1) Upscale Vinyl Window Replacement reflected a cost recoup of 76.6% — Based on a project of replacement of 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated-divided-lite vinyl windows. Simulated wood-grain interior finish; custom-color exterior finish. Trimming exterior to match existing; do not disturb existing interior trim.
2) Midrange Vinyl Window Replacement reflected a cost recoup of 78.7% — Based on Replacing 10 existing 3-by-5-foot double-hung windows with insulated vinyl replacement windows. Wrapping existing exterior trim as required to match, but not disturbing existing interior trim.
Here is a look at the ROI data for Charlotte, NC:
- Upscale Siding replacement: Fiber Cement — 89% and Premium Foam Backed Vinyl — 79%
- Midrange Siding replacement: Vinyl — 80%
- Upscale Roofing replacement: 67%
- Midrange Roofing replacement:71%
- Upscale Vinyl Window replacement: 78%
- Midrange Vinyl Window replacement: 81%
Replacement projects are really strong contenders for home improvement projects because they make your house look good immediately and increase your home’s value. If you get new windows, new siding and even replace the front door, your house looks great and if you plan to try to sell your home in the near future, these improvements will help your home sell faster and for more money. In addition the use of durable, low-maintenance materials in replacement products appeals to homebuyers who are increasingly looking to reduce both the operational costs and maintenance costs in their homes.
If you are unsure where to start in choosing the best investment and in order to get the most benefit for your investment, Belk Builders can help! We can schedule a free consultation to inspect the condition of your roof, siding and existing windows to help determine the project that will bring you the highest yield in terms of energy efficiency, return on investment and comfort level in your home.
Contact Belk Builders today at (704) 400-4710 or visit our website to learn more.
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