Whether you’re selling your home soon or not, you may want to consider the return on investment (ROI) of your upcoming home improvement projects. And, if you are selling soon, a new roof, siding or windows may make your home stand out above the others for sale nearby. Either way, knowing the ROI can help you make the right decision.
Roof Replacement ROI
If your roof is nearing the end of its life and you are selling your home, talk to your Realtor® about replacing it before listing it. A new roof can provide nearly an 83% return on your investment in the greater Greensboro area according to the 2023 Cost vs. Value Report. Not only will you see a good return, but your home’s curb appeal improves and that can attract more buyers. Of course, if you are replacing your roof to sell the home, talk to the roofing company and find out if their workmanship warranty is transferable and if the manufacturer’s warranty is as well.
Return on Investment of New Siding
There are two main categories of siding; vinyl and fiber cement. One of the most surprising facts to come out of the recent report is that new vinyl siding yields a 100% return on investment in our area. Fiber cement siding has a lower return at just 67%. This is, in part, because fiber cement siding costs more than vinyl siding. However, in general, home buyers see the benefit of new siding.
Replacement Window Returns
Replacement windows come with many promises from the window companies. Some say that you’ll recoup your investment in energy savings (you won’t) and others promise a quick sale. We rarely recommend replacing windows solely to sell a home unless yours don’t work or are in very bad condition. Vinyl replacement windows have a 61% return on investment. If you plan on living in your home, new windows will save you between $250 and $400 per year on heating and cooling costs. There are other benefits, but they don’t have the highest ROI of home improvement projects.
Other Projects with High ROIs
Although we don’t handle garage doors, an insulated four-section garage door with windows can provide an 87% ROI. If your home still has a fossil fuel burning furnace, replacing it with an electric HVAC system can yield a 99% return on investment. Finally, revamping your home’s entrance, including new 36” fiberglass entry door with sidelights will give you a 111% return, the highest of any projects evaluated.
Cooley Roofing Can Help with Your Home’s Exterior Remodel
We offer roofing, siding and window replacement and also replace gutters and install gutter covers. Whether you’re looking to improve your home’s energy efficiency and comfort for yourselves or want to improve the curb appeal to sell your home, we can help. Call us today at (336) 766-6488 or fill out our contact form.
ROI information thanks to ©2023 Zonda Media, a Delaware corporation. Complete data from the 2023 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.