Exterior projects offer big returns
Posted on Tuesday, January 29, 2013 at 4:34:22 PM
When it comes to real estate, image is everything. For this reason, homeowners who complete projects on the exterior of their properties can expect the largest return on their investments.
The National Association of Realtor's 2013 Remodeling Cost vs. Value Report indicates homeowners can expect some of the biggest returns from replacing the siding of their properties. Specifically, those who install fiber cement siding can expect a nearly 80 percent return, while those who go with vinyl siding and foam-backed vinyl can anticipate returns of more than 70 percent, on average.
"Projects such as siding, window and door replacements can recoup more than 70 percent of their cost at resale," said NAR president Gary Thomas.
However, exterior projects are the only ones that yield a promising return. On the inside of a home, some of the most popular projects revolve around the kitchen an bathrooms. These types of projects are often much more expensive, but if a homeowners plan to stay in their property for a long period, they could be worth the investment.
To free up the cash needed to complete an upcoming projects, consumers should consider home improvement financing offered by Home Loan Investment Bank.