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.