Manufactured Stone Veneer, Insulation Top Dallas Home Remodeling Projects for ROI
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New fiberglass attic insulation got a 100.9% ROI in 2015, according to TAR. Photo: Ryan McFarland via Creative Commons
When it comes to home remodeling projects, homeowners are all about improving either a home’s curb appeal or energy efficiency. This is true in Dallas, the state, and the nation.
A new report from the Texas Association of Realtors released Friday, the Texas Remodel Valuation Report, looked at the profitability and popularity of home improvement projects in 2015 both nationally and locally.
Remodeling projects continue to be popular and profitable in Dallas. This is true even though profitability of most home remodeling projects in Dallas declined slightly in 2015, with ROI ranging between 51.5 percent and 108.6 percent.
Lots of people here buy a fixer upper and choose certain strategic projects to make it more livable and energy efficient. Others choose to complete a few projects before putting a home on the market to boost resale value.
Locally, the biggest bang for a homeowner’s remodeling buck came from manufactured stone veneer, a lower-cost alternative for siding, fireplaces, and other stone projects. In Dallas, people recouped on average 108.6 percent ($7,920) of the total project cost. It was also in the top five most profitable projects in all Texas markets with the exception of Houston, seeing a 157.9 percent ROI statewide.
Source: Texas Assoc. of Realtors
Just behind veneer is fiberglass attic insulation, which increases a home’s overall energy efficiency. In Dallas, homeowners saw a 100.9 percent ROI on their insulation projects in 2015, according to the report.
Upscale renovations were both profitable and not: high-end garage door replacements showed the highest annual increase in recoup cost in 2015 of all projects, increasing 19 percent over 2014 to regain 82.2 percent ($2,550) of the total project cost, on average.
But upscale bathroom remodels were the least profitable project, recouping just 51.5 percent ($28,618) of the total project cost. This is a 24.9-percent decrease from the year before.
Midrange improvements almost always saw bigger ROI than luxury ones everywhere. Homeowners who went with a midrange garage door replacement saw 96.8 percent ROI.
Garage door replacements, a quick and easy way to boost curb appeal, consistently ranked among the top five most profitable projects in Austin, Dallas, El Paso, Houston, and San Antonio, seeing a 112.1 percent ROI of the total cost.
Interestingly, the 2015 report showed remodeling projects that maximized a home’s existing square footage were among the least profitable projects in 2015.
Additionally, bathroom, deck, and master suite additions were among profitable in Texas, bringing as little as 25.5 percent ROI.
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Great information! Thanks
A big cheer for stone veneer! I used Veneerstone, a manufactured and oh-so-gorgeous product, to spiff up my fireplace surround with stacked stone. What a difference!!! Installed right over the builder’s grade 12×12 ceramic tile without a problem. Built up the hearth while I was at it and created a unique, classy focal point. When I put the house on the market a few years later, that fireplace was an attention-getter.
Wow, thanks for sharing. It ‘s nice to see that there are still effective, yet inexpensive ways to save money at home. Insulation remains near the top of the list, so it’s important to make sure the insulation is properly set and that there are no leaks or cracks that might be ruining your savings.
I love the elegant look of stone veneer and clients love the look every time I suggest it during a home remodel.
Thanks for the article! it was nice to read.
[…] when compared to 2014. The second largest return on investment for a remodel, after manufactured stone veneer, was fiberglass insulation, which increases energy efficiency in homes everywhere. Fiberglass […]