Want to get the most bang for your home-improvement buck? Spend the money outside. That's the message from Remodeling Magazine's recent "Cost vs. Value Report."
Projects that enhanced curb appeal offered the best return on investment, according to the report. "Seven of the 10 top-ranked projects include exterior replacements of siding, windows and doors," said Sal Alfano, Remodeling's editorial director. (The full report is at www.costvsvalue.com.)
Fiber-cement siding, a low-maintenance alternative that looks like wood but doesn't have to be repainted often, had the best ROI of 13 "upscale" projects tracked. The return rate was 78 percent nationwide, and 67 percent in the West North Central region, which includes Minnesota.
Fiber-cement siding has "taken over the whole industry," said Jim Kuzzy, project manager for Plekkenpol Builders of Bloomington. "It's not inexpensive, but it reduces maintenance costs. People are tired of making that [painting] investment."
Kitchen and bath remodels delivered a return on investment of about 50 percent regionally, a little more nationally. That's a marked drop from a few years ago, before the housing crash, when those pricey projects returned close to 100 percent.
But local homeowners remain bullish on kitchen and bath makeovers, according to Kuzzy. "The Twin Cities metro area is a distinct market," he said. "Kitchens and bathrooms still give you the best return on investment."
Besides, quick payback is not the aim of most homeowners who remodel, he said. "A lot of people are reluctant to sell now. They're less concerned with return on investment and more with keeping up their homes."
Kim Palmer • 612-673-4784
