These Home Improvements Will Offer the Best Return for Idaho Homeowners in 2020
Exterior renovations and kitchen remodels top Remodeling’s annual Cost vs. Value Report.
Enhancing your home’s curb appeal is one of the most effective ways to boost its value, according to Remodeling Magazine’s 2020 Cost vs. Value Report. The report, which compares average costs for remodeling projects with the value those projects retain at resale, suggests that exterior improvements yield the greatest return on investments.
In fact, most all of the top 10 investments listed for the Boise area are exterior home improvements, with the exception of a minor kitchen remodel and bathroom remodel.
According to the report, the following fix-ups will have the biggest return on your investment in the Gem State.
Idaho Home Improvement #1: Give the facade a facelift
Idaho Home Improvement #2: Upgrade your garage door
In Idaho, a new garage door will cost you an average of $3,800.
However, you can expect to recoup $3,200 (that’s 84% of the job cost) in your home’s higher resale value.
Adorning the front of your house with a sophisticated stone veneer will ramp up its elegance and its price tag. By replacing old vinyl siding with manufactured stone along the bottom third of your house and around the entry, you could raise your home’s market value by $8,350. That’s 94% of the average $8,900 cost of the job.
Similarly, swapping out your home’s vinyl siding for fiber-cement siding comes with a cost return of 92%, compared to an 81% return on new vinyl siding.
Idaho Home Improvement #3: Swap out your entry door
At an estimated $1,700, putting in a new front door is the least expensive improvement on Remodeling Magazine’s list and boasts an 80% return on investment.
This project includes replacing your existing entry door and lockset with a new steel unit.
Idaho Home Improvement #4: Freshen up the bathroom
In 2020, the highest-ranking indoor project is a bathroom remodel with a universal design aimed to make your bathroom accessible to people of all ages, sizes and abilities.
And the all-encompassing universal design has a higher return on investment than a standard bathroom refresh: 78% ROI compared to 58% on a midrange bath remodel.
Idaho Home Improvement #5: Put in new windows
Exchanging drafty old windows for up-to-date, energy-efficient ones will cut down your energy costs and increase your home’s worth.
In 2020, vinyl windows have a 77% ROI, while installing wood windows will return about 70% of your investment.
Idaho Home Improvement #6: Revitalize your kitchen
Less seems to be more when it comes to kitchen projects. A minor kitchen remodel, which includes replacing cabinet doors and updating countertops, flooring and kitchen appliances, will recoup about 76% of the estimated $21,000 job cost, while a major kitchen remodel returns only 46% of the $62,500 project cost.
Idaho Home Improvement #7: Re-shingle the roof
Outfitting your home with a new roof may cost you more than any other exterior improvement, but it should provide a decent return on your investment — in addition to keeping you properly sheltered.
The average $22,000 project cost of re-shingling the roof has a 70% ROI, slightly below the 74% return on the $36,000 average cost of a new metal roof.
Let Zions Bank help fund your next home project with a Zions Bank home equity credit line[cite::701::cite]. Our loan decisions are made locally in Utah and Idaho so you can enjoy a faster turn-around time on approval. Visit a Zions Bank branch near you to speak with a banker.
Kallee Feuz is a Public Relations Officer for Zions Bank.