April 2024 –
Increase Your Home’s Value with These Renovation Tips
Remodeling projects can improve the enjoyment and comfort of your home. If you intend to sell your current home soon, the projects you tackle today can pay off in the future. Depending on the type of remodeling project, improvements can add to your home resell value. However, not all remodeling projects are equal when generating the greatest resell value for homeowners.
Zonda, a housing market research firm, recently released their annual Cost vs. Value Report, which tracks the value ratio over the cost for 23 common remodeling projects. According to Zonda, the value figures are derived from a survey of more than 6,000 real estate agents. As in previous years, exterior projects deliver the best return on investment. Why? First impressions have an outsized influence on potential buyers and a home’s exterior that is well-maintained leaves a positive impression.
One essential home exterior feature is a good-looking garage door. According to the Cost vs. Value Report, homeowners can recoup 102% of the garage door replacement cost. There are numerous types of garage doors to choose from. However, the best place to start is focusing on function and design. Experts recommend purchasing a new garage door that seamlessly fits your existing exterior style.
Joshua Hatman of Hung Right Doors, LLC, suggests, “One of our most popular products of 2024 is the Clopay’s Bridgeport garage door. Their newest addition is a shaker style garage door design. Bridgeport steel garage doors combine traditional symmetry of wood stile and rail door designs with the proven durability of Clopay’s steel construction. This provides exceptional strength, energy efficiency, and quiet operation. Plus, it is a simple and easy way to increase your home’s value and boost your curb appeal.”
A garage door isn’t the only entryway feature that reaps rewards. Homeowners can also recoup 100% of their investment in an entry door replacement. When selecting a front door, you’ll also want to ensure the style and materials complement your overall home aesthetic.
Another exterior project that topped the list was manufactured stone veneer. Homeowners who tackle this remodeling project are estimated to recover 102% of their investment. Manufactured stone veneer exhibits the look of natural stone and is available in various colors and sizes.
Gina Carlson of Dumanis Interiors & Design Build, shares “We recently used Cobblefield stone cladding by Cultured Stone to provide a rustic look and impression next to a new carriage style garage door for our client’s newly remodeled Man Cave.”
A couple of interior projects also generate a generous return on investment. For example, according to the report, homeowners who invest in a minor kitchen remodel will likely recoup more than 71 percent of their investment. This type of remodeling is generally smaller and involves replacing dated materials and fixtures instead of knocking down walls or reconfiguring plumbing and electrical. Similarly, with a mid-range bathroom remodel, homeowners can expect to recoup 66% of their investment.
To learn more about remodeling projects that prove their value or to find a remodeler in your area, visit omb.org for an online searchable directory.
Lewis County Government Affairs Update:
Comprehensive Plans are in the process of being updated across multiple jurisdictions. The Washington State Growth Management Act requires periodic updates to happen every 10 years, and now is the time to give your input. If you do business in any jurisdiction in Lewis County, whether it is developing property or building a single home, you should weigh in on the policy changes being proposed at this time. To comment you can follow the web links to each jurisdiction and find their process there. A few chapters of note include:
- · Land Use
- · Natural Resource Lands
- · Housing
- · Transportation
- · Capital Facilities and Utilities
- · Economic Development
- · Environment, Recreation, and Open Space
- · Archaeological and Historic Resources
- · Health.…and more
For more information, please contact OMB Government Affairs Director, Jessie Simmons, at ga@omb.org or (360)754-0912 ext. 102. The next opportunity to make changes will be in 2034. So, this could impact your business for the next decade.
BIG Home & Remodel Show on April 20-21, 2024.
Saint Martin’s University Marcus Pavilion
Saturday 10:00am-5:00pm and Sunday 10:00am-4:00pm
The Big Home and Remodel Show is the only one of its kind in Olympia – a one-stop shop for all your Home and Landscaping needs! You’ll see professionals in many home-related fields from Remodeling to Garage Doors to Landscaping, and everything in between. Visit omb.org or click below for your $2.00 off coupon!
Lewis County Chapter Meetings
Please join us for our next monthly OMB Lewis County Chapter meeting on the third Wednesday of each month at the Moose Lodge. This month we will feature an overview of the ROII program. For more information contact Jenn at membership@omb.org. Non-members welcome.