Waukesha County Home

APRIL 2017 HOMES PLUS 3 254514004 When granite countertops or shiny, stain- less steel appliances beckon homeowners from the display areas of home improve- ment stores, it's tempting to gear remodel- ing thoughts toward the items that will add flair and decorative appeal to a home. Even though most improvements add some meas- ure of value, deciding which are the best investments can be difficult. Return on investment, often referred to as "ROI," varies depending on the project. Fre- quently, the projects that seem like the best investments don't bring the greatest rate of return, while those that seem like smaller projects bring substantial returns. Real estate professionals routinely weigh in with their expert advice, and homeowners can couple that advice with Remodeling maga- zine's annual "Cost vs. Value Index" to reap the greatest financial impact from their renovations. The following were some of the projects that garnered the greatest ROI in recent years. ■ Open the door to improvement. Region by region across the United States, installation of a new steel door on the front of a home can have a large impact on the resale value of a property. The ROI ranges from 123 percent at the highest, to 86 per- cent at the lowest — which is still a consid- erable investment return for such a simple project. Match the door's style with the style of the house for the best value. ■ Turn up the kitchen heat. An attrac- tive kitchen can encourage buyers to over- look some of a home's less attractive com- ponents. In the kitchen, replacement coun- tertops, wall color changes, new cabinetry and flooring offer the biggest ROI. ■ Dreaming of a new bedroom: Remod- eling magazine also points to creating an attic bedroom to increase home value. The ROI of an attic remodel that adheres to code can garner an 83 percent ROI. ■ Home maintenance projects should be first priority. There's little good to improving the aesthetic appeal and func- tionality of a home if there are existing structural or maintenance issues, warn experts. Siding replacement, HVAC system repair or replacement, a new roof, and base- ment dampness prevention solutions can be smarter investments before other flashy remodels. Many buyers have a strict budget for a house, and those buyers may be more likely to buy a house with little or no main- tenance issues. Such buyers will then upgrade the kitchen or baths themselves, according to Harvard's Joint Center for Housing Studies. ■ Worthy window replacement. Angie's List, a home services review and referral resource, has found that the aver- age ROI of new windows is 77 percent. The cost of installation and energy savings tend to offset at around the 10-year point. If remodeling is on the horizon, home- owners should give strong consideration to ROI before choosing a project. Improvements that increase home value While some home improvements may beckon with their sheer visible impact, some fairly mundane updates carry the biggest impact for the dollar, including a new front door, not to mention neglected home maintenance projects.

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