Unless you plan on staying in your home for another 30 years, the big debate when it comes to considering a home improvement project is: “From a financial perspective, does it make sense to do this project?” Annually, the Remodeling Cost Vs. Value report is published and is a great resource to answer this question. The data includes the average resale value of a variety of different projects including vinyl replacement windows, vinyl siding, and entry doors (steel and fiberglass) – as well as larger renovations like roofing, kitchen remodels or additions.
The 2016 data shows the average vinyl replacement window project in the Syracuse, NY area (consisting of the replacement of 10 existing double hung windows with vinyl windows with low-e) costs around $14,731 with a resale value of $9,240 – that’s a 62.7% recouped investment (an 11% increase from 2015). That’s not including the money that you will additionally save on energy bills!
Updating your siding can add major curb appeal to your home, but we know it can be a pricey investment. The average vinyl siding project in the Syracuse, NY area (consisting of the replacement of 1,250 square feet of siding with new, insulated vinyl siding, as well as trim) was found to cost around $15,504 with a resale value of $7,976 – which means you’ll still recoup over half of your investment (51.4%).
When thinking about a home improvement project, it is important to remember that the benefits you will get from these projects outweigh the costs. They will help you save on your energy costs and make your home more comfortable – as well as add curb appeal and value to your home for if and when you choose to sell your house.
If you’re debating about a home improvement project, give us a call at (315) 624-7344 or stop by our Idea & Design Center at 349 Oriskany Boulevard in Whitesboro, NY – we’d be happy to discuss your project and how we can help you save money!