Homeowners and home sellers in the states along the Pacific coast should consider five home improvement projects that offer a great return on investment. Interestingly enough, these home improvements do not necessarily coincide with national averages.
Pacific Coast Home Improvement Projects
Homeowners who call Alaska, Hawaii, California, Washington or Oregon their home states should keep a close watch on the home improvement projects they choose to undertake. Return on investment for home improvements is a bit fickle, and home buyers in these states do not necessarily fall in step with national averages (as outlined by Remodeling Magazine).
Five Best Home Improvement Projects
Replace an entry door with a steel model. At a cost of $1,353, the project offers a 128 percent return on investment and actually features a resale value of $1,732. The national average offers a 128.9 percent return.
Minor Kitchen Remodels
The emphasis is on ‘minor’ and as long as the cost does not top $23,210, the return on investment is almost 95 percent. This far exceeds the national average which currently sits at 78.3 percent. Keep in mind that this is one of the home improvement projects that are currently waning in popularity across the nation.
Switch out existing siding with fiber cement. Spend about $13,759 and Pacific coast states home owners can expect a 92 percent return on investment. The rest of the nation only sees about 84 percent.
While Californians do not always have basements in their homes, those Pacific coast homeowners whose homes do feature them should consider remodeling. Keep the costs under $74,974 and the recouped cost may be as high as 91.6 percent. This is a rising trend nationwide, even though the national average sits at only 75 percent at this time.
Make it a wood deck that costs no more than $12,838, and the homeowner may expect a 91.5 percent return on investment. This beats the national average of 81 percent. Californians might want to add termite treatments to the job.
Why Return on Investment Matters
California in particular has been hit hard by the foreclosure crisis. The trend of ‘house flipping’ persuaded eager investors to purchase average homes and invest quite a bit of money into home improvement projects that added a certain wow-factor to the properties. When the housing bubble burst, these homes could not be sold at a profit. Some could not even be sold at an acceptable loss and had to go into foreclosure.
This underscores the importance of choosing wisely when considering home improvement projects. While home seller A may enjoy the imported Italian tile, homebuyer B has little use for it and thus it adds nothing to the value of the home for him.