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Projects That Will Put Money Into Your Pocket

Wednesday, September 30th, 2020 by Starcom Intern


Thinking about home remodeling can be overwhelming. A lot of factors go into that decision such as: what will it look like, how much will it cost, how much time will it take, and is it worth it? One of the biggest factors on whether a project is worth it or not, should be how much return on your investment will you receive.

 According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com) these are some of the top projects that will give you the biggest return on your investment in the Atlantic Region.

Manufactured Stone Veneer

The Manufactured Stone Veneer will bring you the biggest return on investment while also making your home safe and look nice. It is a water resistant barrier that will give your home protection from inclement weather while also giving your home an elevated exterior design. With a 94% return on investment, a Manufactured Stone Veneer will bring the most value to your home.

There are two types of manufactured stone veneers, dry-stack or mortared. Dry-stack looks similar to building blocks without mortar between each block. This will give the outside of your home a cool, contemporary look. Mortared is the alternate option, this has mortar between each block and gives you a more traditional look.

Veneer

 

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$8,797

$8,265

 

94.0%

 

$9,357

$8,943

95.6%

 

 (Cost vs. Value Report)

Siding Replacement- Fiber Cement

While bringing in 80.5% of your investment back to you, a fiber cement siding replacement will give your home a more natural and modern look. As with the Manufactured Stone Veneer, this will bring great value to your home while also protecting your home from inclement weather. Starcom uses Hardie Plank, which is a primed fiber cement lap siding that features a soft, wood like grain finish. It is made for hot and humid weather as well as tropical storms and hurricanes. They make specific product based off regions. For our region, in Maryland, we would install their HZ5 product. Since our region expects year round precipitation, this product is made with high quality raw materials and proprietary additives to reduce moisture intrusion. This will help prevent the siding from growing mold, shrinking, swelling, and cracking.

zone

Source: https://www.jameshardie.com/why-hardie/performance-and-durability

This siding is the only type of siding that combines the performance of masonry, has minimal upkeep, and is fire and termite proof. It is also a much cheaper option then many other materials such as wood clapboards, shingles, and stone or brink.

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$15,582

$12,550

 

80.5%

 

$17,008

$13,195

77.6%

 

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

siding

 

Deck Addition- Wood

Coming in as the third best return on investment, a wooden deck addition will give you 77% of what you spent on it.  While giving you a large return on your investment, a wooden deck will also allow you to comfortably relax outdoors with your friends and family.

Many people prefer wooden decks because it gives a more natural and warm appearance. It is important to decide what type of wood you want for your deck as well. Weather-resistant wood such as cedar or redwood are the best options to prevent your deck from warping, cracking, or any other weather damage. Redwood is usually the more expensive option compared to cedar.

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$12,714

 

$9,786

 

77.0%

 

$14,360

$10,355

72.1%

 

(According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

deck

 

Kitchen Remodel

Having your kitchen remodeled can be one of the more fulfilling remodeling projects. It will provide a great return on investment at 76.3% and it will also give you the kitchen that you have always wanted with updated appliances.

Deciding whether to remodel your kitchen or not is a big decision. The customer must decide whether they want the flooring, roofing, or appliances changed, or a combination of the three or all of them replaced. This remodel has a lot of planning and steps involved to get to completion with your kitchen, and Starcom will help you complete those necessary steps.

 

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$22,125

$16,884

76.3%

$23,452

$18,206

77.6%

 

 

 

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

Kitchen

Siding Replacement- Vinyl

A little bit more of a cheaper option for siding then the fiber cement siding, vinyl siding is still a great investment with a 76% return. As with the fiber cement siding, this will also give you a more natural and modern look to your home, while also protecting it from any bad weather.

It is often said that vinyl siding is permanent, and there is some truth to that because it does last a very long time. Titanium dioxide is added to the chemical makeup of the siding to block any UV rays. The only maintenance this siding requires is it needs to be washed every year. Vinyl now has more color options than before and the newer products don’t fade as quickly as the older products.

 

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$13,153

$10,000

76.0%

$14,359

$10,731

74.7%

 siding

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

Bath Remodel

Much like the kitchen remodel, remodeling your bathroom can be one the more fulfilling projects to undertake. This project will give you the satisfaction of having a great new looking bathroom with new amenities while also bringing you more money with a 66.7% return on your investment.

Bathroom remodels are similar to kitchen remodels in the sense that they require a lot of planning and steps to complete. There are many ways to remodel a bathroom including: surface alterations, complete replacement, layout change, and changing the room. Surface alterations are about covering over existing flooring or walls, not replacing. Complete replacement is you keep the same layout of your old bathroom but it is torn down to bare walls and floor. Then new plumbing fixtures, vanity, flooring, and lighting are installed.

Changing the layout is more involved than the complete replacement because it involves moving fixtures such as a tub/shower, toilet, or the sink. The layout changes also include wiring alterations and fixture replacements.

Changing the room is the largest scale remodel, this includes structural changes such as moving or removing walls, getting rid of exterior walls, or altering the ceiling or rood. Usually in this remodel the goal is to expand the bathroom.

 

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$19,680

$13,130

66.7%

$21,377

$13,688

64.0%

 


 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

bathroom

Deck Addition- Composite

It is more expensive than the other deck addition option; however, the composite deck addition is a great project to undertake. Along with providing a nice outdoor area to hangout with friends and family, it is great value for money with a 66.6% return.

Composite decks are slowly becoming more popular as time goes on. These decks are a mix of recycled plastics and wood fibers. You are able to choose between many colors to mimic a more natural look. As time has gone on, new improvements have made this deck a very appealing option.

Composite decks also require little to no maintenance at all, no sanding, refinishing or staining is required ever.

 

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$18,506

$12,327

66.6%

$19,856

$13,257

66.8%

 

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

deck

Bath Remodel- Universal Design

It is a more expensive than the midrange bath remodel; however, the universal bathroom design will provide you with a new bathroom, while also bringing more money into your pocket with a 61.2% return on investment.

Universal design is the theory that the bathroom should be accessible to everyone, regardless of their age, size, or ability. This design will make it a more accessible bathroom as you get older, so that older residents don’t have to move to a new facility. It also makes it easier for anyone with a disability to access the bathroom when they need too. The universal design bathroom has a large resale value, with nearly $20,000.

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$32,494

$19,872

61.2%

$34,643

$21,463

62.0%

 

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

bathroom

Master Suite Addition

Last but not least, the master suite is a great addition to your home to finally have that master bedroom that you have wanted. Coming in with a 59.1% return on investment, this addition will not only provide more comfort to you, but will also add value to your home.

The master suite addition involves a lot of planning with us to determine what you desire for the room. Some details to consider when planning this addition are: privacy, storage, noise, exits and entrances, furnishings that will be added, the overall setting of your home, and any maintenance that would need to be completed on the room. These are important details to consider because after all this is the room you will be living in every day.

Job Cost (Atlantic):

Resale Value (Atlantic):

Cost Recouped (Atlantic):

Job Cost (National Average):

Resale Value (National Average):

Cost Recouped (National Average):

$125,508

$74,165

59.1%

$136,739

$80,029

58.5%

 

 

 (According to the Remodeling 2020 Cost vs. Value Report (www.costvsvalue.com))

bedroom

 

Return On Investment Chart

chart

© 2020 Hanley Wood Media Inc. Complete data from the Remodeling 2020 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

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