Exterior projects offer big returns

In a recent nationwide survey examining local markets and buyer home preferences within those markets, Realtors rated exterior projects among the most valuable home improvements.

In the 2013 Remodeling Cost vs. Value Report, the agents indicated such projects as siding, window and door replacements can recoup more than 70 percent of their cost at resale.

Realtors expected a steel entry door replacement as the project to return the most money, recouping an estimated 85.6 percent of costs upon resale. The steel entry door replacement is the least expensive project in the report, costing little more than $1,100 on average.

Three types of siding replacement projects ranked in the top 10: fiber cement siding, expected to return 79.3 percent of costs; vinyl siding, expected to return 72.9 percent of costs; and foam backed vinyl, expected to return 71.8 percent of costs. A midrange and upscale garage door replacement were both expected to return more than 75 percent of costs.

According to those surveyed, two interior remodeling projects can recoup substantial value at resale. A minor kitchen remodel, ranked fifth, is expected to return 75.4 percent of costs. Nationally, the average cost for the project is just under $19,000.

The second interior remodeling project ranked eighth in the top 10 and tied with the vinyl siding replacement is the attic bedroom, with an estimated cost recovery of about 72.9 percent. With the addition of a bedroom

"Realtors are the best source for helping homeowners decide what remodeling project brings the best value to their home because they see many homes every year and can provide valuable insight into what types of improvements can make a difference with buyers. They also are knowledgeable about what types of improvement projects are permitted and regulations involved in your particular area," said Carolyn Miller, president of the Silicon Valley Association of Realtors.

The 2013 report, which is produced by Remodeling magazine publisher Hanley Wood, LLC and completed in cooperation with the National Association of Realtors, compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 81 markets across the country.

To read the full project descriptions and access national and regional project data, visit http://www.costvsvalue.com. "Cost vs. Value" is a registered trademark of Hanley Wood, LLC. Results of the report are also summarized on the national group's consumer website HouseLogic.com, which provides information on dozens of remodeling projects, from kitchens and baths to siding replacements.

Information in this column is presented by the Silicon Valley Association of Realtors at silvar.org. Send questions to rmeily@silvar.org.

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Exterior projects offer big returns