Remodeling or replacing: Which home improvement tactic is right for you? [Video]
Posted on Friday, February 17, 2017 at 1:16:39 PM
When deciding how to improve the look and feel of a house, homeowners have two options: remodel or replace certain decor aspects entirely. While traditionally remodeling has been been viewed as the most economical choice, recent data from the 2017 Cost vs. Value report by Remodeling magazine shows that - depending on the desired outcome - replacing may actually be more advantageous.
The key is determining what the homeowner wants to put into the project and weighing this against what they hope to get out of it. The report showed that smaller, more subtle improvement often boasted the highest return on investment. Replacing attic insulation offered 107 percent ROI, while real estate professionals recommended homeowners opt for replacement of other features like old windows and doors. A steel entry door replacement offered an average of 90.7 percent ROI.
Elsewhere, Remodeling.net pointed out that a siding or garage door replacement offered high ROI as well - over 76 percent in both cases. This implies that, depending on the nature of the home improvement project, it may be better to skip remaining and remodeling and just opt for a full-scale replacement.