This is the third installment of a new occasional column called Getting Real About Renovations. We’re looking at renovation realities for all sorts of projects, from hardwood floors and open floorplans, to master suite additions and kitchen upgrades. We’ll give you the unadulterated truth about options, costs, effort, Realtor opinion, and estimated ROI for these projects. You can read the last one about garage doors here.
When people think of home renovations, things like “new kitchen” and “hardwood floors” typically come to mind. But when it comes to bang for your buck — and it might not be as sexy as a new vaulted ceiling or bathroom tile treatment — you really can’t beat adding insulation.
Both nationally and in Dallas, the top home remodeling projects last year were those that increased the functionality and sustainability of the home. They did this by improving either a home’s drive-up appeal or energy efficiency, according to the 2016 Cost vs. Value Report by the National Association of Realtors and Remodeling magazine.
Fiberglass attic insulation, which increases a home’s energy efficiency, ranked among the top five most profitable projects nationwide. In Dallas, it recouped 100.9 percent of initial investment, based on an average project cost of $1,482, according to that report.
“I think adding insulation is a great ROI in most cases —it is relatively inexpensive, as compared with radiant barrier, HVAC, solar panels, and a lot of other energy efficiency features,” said Kay Wood, a Realtor with Briggs Freeman Sotheby’s International Realty. “There are also sometimes incentives from Oncor or federal tax credits for increasing the efficiency of your home. I always encourage clients to think about how long they plan to stay in their home and how long it looks like it will take to see that savings pay for their investment. Energy efficiency and green features can also improve resale.”