May 31, 2023
Home renovation is a crucial aspect of home ownership. It can improve the safety, comfort, and functionality of your property, all while keeping it aligned with current market trends. In the process, well-executed remodeling projects can add significant value to your home.
With that said, not all renovations are created equal. Projects that lack durability, are poorly suited for the local market, or cause significant work to maintain will struggle to boost home value at all.
So where to start? Every year, Remodeling Magazine publishes comprehensive data on the most value-adding renovation projects for homeowners. Using data from the Pacific Coast region, we will take a look and see which types of remodeling projects can have the greatest impact on home values in the Bay Area.
A siding upgrade will boost your home in numerous ways:
For the most part, inorganic siding options, such as aluminum vs vinyl siding, will perform better along these lines than traditional wood planks. Wood planks have to be regularly painted or treated to maintain their effectiveness, and they present a major fire risk in the California climate. As such, a vinyl siding replacement will recoup a whopping 98.3% of project costs, making it one of the most valuable renovations for the Pacific Coast region.
A roofing project will perform many of the same functions as siding. However, due to its location on top of the house, it has several distinct concerns. For example, it will receive direct UV exposure, which can cause some types of roofs to degrade more rapidly. It may also receive the force of projectile impact more directly.
While most roof projects compare a wood shake roof vs shingles, this is not much of a contest for California residents. Wood roofs present an extreme fire risk and are very poor with solar panel installation, which is an issue given California’s ongoing solar mandates. Shingles are the better choice, with a basic asphalt roof recouping 61.3% of project costs.
It is important to note that while asphalt shingles are much better than wood shakes in the California climate, they are still not the best choice. They do have a tendency to degrade in the face of extended UV exposure. A better solution would be composite roofing shingles. Fabricated from a combination of inorganic materials, composite shingles carry a Class A fire rating and offer the lowest maintenance of any roofing type on the market.
Homeowners are constantly looking for ways to get in touch with nature. While this commonly involves decks, patios, outdoor kitchens, and other types of exterior living spaces, it can also be achieved by bringing natural accents indoors. Exposed wood ceiling beams, interior stone veneer accent walls, and larger living room windows are just a few ways that homeowners can achieve a more natural interior design feel. The use of stone is particularly trendy at the moment, with manufactured stone veneer projects recouping an impressive 84.6% of project costs.
A garage door replacement is annually one of the most lucrative home improvement projects a homeowner can perform, returning 96.8% of costs in 2023. Although it is often overlooked, it has a truly transformative effect on a property. Swapping out a dented and dinged garage door with a more modern style will instantly boost curb appeal in a key focus area. The best news is that most garage door replacements are modestly priced and can be performed in as little as half a day, making them a quick and simple way to add value to your home.
Kitchen remodels are one of the more exciting remodeling projects a homeowner can undertake. Everybody wants to cook in their own custom kitchen.
However, it is important to note that your dream kitchen may not be everyone’s dream kitchen, and elaborate kitchen remodels don’t recoup all that much of their cost. Buyers don’t want to pay extra for features that will cause more work without providing many functional benefits, so avoid the temptation to have an old-school soda fountain installed.
Instead, more simple, functional benefits are the way to go. New flooring, countertops, and appliances are all upgrades that any home buyer can appreciate. The data speaks for itself, with minor midrange kitchen projects recouping 79.2% of project costs vs. a mere 27.5% for major upscale projects.
Remodeling projects are a crucial aspect for maintaining the form and functionality of your home. With that said, it is important to choose projects wisely, as there is a wide range of outcomes for how remodeling can boost home value. For more information on the latest trends in Bay Area real estate and which renovations should be taken before sale, contact Legacy Real Estate today!
Max Shafer is a freelance writer that loves sharing his knowledge and expertise on real estate. He lives in Land O’ Lakes, Florida where he enjoys spending time with his wife and researching real estate trends in his free time. Max’s work as a freelance writer can be found on Building Product Advisor, a new construction industry resource site.
*There are a number of no interest financing options for home sellers to get their homes ready for sale. These projects extend from fairly major remodeling to minor detailing such as re-finishing, new paint, and hardware. Contact our team today to find out what options are best for your situation.
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