Increase Your Home’s Value: 10 High-ROI Projects in Portland

Are you looking to spruce up your home with some renovation projects that not only add value but also maximize your return on investment? Look no further than Remodeling.com’s 2023 Portland Cost vs. Value Report. This report highlights the highest return-on-investment projects for homeowners in the Pacific Northwest. In this blog post, we will delve into the top projects identified in the report and provide an overview and tips for each one.

#1: HVAC Conversion | Electrification

  • Job Cost: $18,873
  • Resale Value: $19,770
  • Cost Recouped / ROI: 104.8%

Owners who convert from fossil fuels to electric-only HVAC systems with air conditioning, boosted air handling, and duct sealing et al. could see an ROI of 104.8%. This provides a major return on the investment and reduces carbon footprint.

Overview: An HVAC conversion to electrification involves replacing fossil fuels with electric-only HVAC systems, air conditioning, boosted air handling, and duct sealing. This helps improve energy efficiency and reduces greenhouse gas emissions.

Tips: Focus on the energy efficiency aspect of the project and emphasize how it can help lower energy bills in the long run.

#2: Siding Replacement | Vinyl

  • Job Cost: $18,228
  • Resale Value: $17,922
  • Cost Recouped / ROI: 98.3%

Replacing your old siding with new vinyl siding can have an ROI of 98.3%. Vinyl is an affordable and durable option that is available in a variety of colors and styles.

Overview: Siding replacement involves removing old siding and replacing it with new materials. Vinyl siding is a popular choice due to its durability and low maintenance.

Tips: Focus on the aesthetic appeal of vinyl siding and explain how different colors and styles can improve the curb appeal of the property.

#3: Garage Door Replacement

  • Job Cost: $4,756
  • Resale Value: $4,604
  • Cost Recouped / ROI: 96.8%

Replacing your garage door can increase the value of your home by 96.8%. A new garage door can provide better insulation, security, and a fresh look.

Overview: Garage door replacement involves removing an old or outdated garage door and replacing it with a new one. A new garage door can provide better insulation, security, and enhance the look of the property.

Tips: Emphasize the security benefits of a new garage door and focus on how it can improve the overall appearance of the property.

#4: Entry Door Replacement | Steel

  • Job Cost: $3,839
  • Resale Value: $3,406
  • Cost Recouped / ROI: 88.7%

Replacing the entry door with a steel door can have an ROI of 88.7%. Steel doors are durable, low maintenance, and come in a variety of styles and finishes.

Overview: Entry door replacement involves removing the old entry door and replacing it with a new one. Steel doors are a popular choice due to their durability and security features.

Tips: Focus on the security aspects of the steel door and how it can improve the overall appearance of the property.

#5: Siding Replacement | Fiber-Cement

  • Job Cost: $19,765
  • Resale Value: $17,172
  • Cost Recouped / ROI: 86.9%

Replacing your old siding with fiber-cement siding can have an ROI of 86.9%. Fiber-cement siding is low maintenance, fire-resistant, and can last for up to 50 years.

Overview: Siding replacement involves removing old siding and replacing it with new materials. Fiber-cement siding is a popular choice due to its durability, low maintenance, and fire-resistant properties.

Tips: Emphasize the durability of fiber-cement siding and how it can withstand harsh weather conditions. Highlight its fire-resistant properties and explain how it can provide better protection in case of fires.

#6: Manufactured Stone Veneer

  • Job Cost: $11,785
  • Resale Value: $9,973
  • Cost Recouped / ROI: 84.6%

Adding manufactured stone veneer to your home can have an ROI of 84.6%. This project involves adding a layer of manufactured stone to the exterior of your home, which can improve its aesthetic appeal and curb appeal.

Overview: Manufactured stone veneer involves adding a layer of manufactured stone to the exterior of the home, which can enhance its overall curb appeal.

Tips: Emphasize the durability of manufactured stone veneer and its low maintenance requirements. Highlight the variety of styles and colors that are available to suit different personal preferences and the style of the home.

#7: Minor Kitchen Remodel | Midrange

  • Job Cost: $28,057
  • Resale Value: $22,221
  • Cost Recouped / ROI: 79.2%

A minor kitchen remodel can have an ROI of 79.2%. This project involves making minor changes to the kitchen, such as replacing appliances, updating countertops, and adding new hardware.

Overview: A minor kitchen remodel is a cost-effective way to update the kitchen while improving functionality. This project involves replacing appliances, updating countertops, and adding new hardware.

Tips: Emphasize the functionality and efficiency of the new appliances and countertops. Highlight how the new hardware can improve the overall look of the kitchen and add a modern touch.

#8: Window Replacement | Vinyl

  • Job Cost: $22,299
  • Resale Value: $15,215
  • Cost Recouped / ROI: 68.2%

Replacing your old windows with new vinyl ones can have an ROI of 68.2%. New vinyl windows can improve energy efficiency, reduce noise levels, and enhance the overall look of your home.

Overview: Window replacement involves removing old windows and replacing them with new, energy-efficient ones. Vinyl windows are a popular choice due to their affordability and durability.

Tips: Focus on the energy-saving benefits of vinyl windows and how they can help lower energy bills. Highlight how new windows can improve the overall value of the home and how the noise-reducing features can enhance the living experience.

#9: Bath Remodel | Midrange

  • Job Cost: $27,024
  • Resale Value: $16,893
  • Cost Recouped / ROI: 62.5%

A mid-range bathroom remodel can have an ROI of 62.5%. This involves making minor changes, such as replacing fixtures, adding new tile, and updating the vanity.

Overview: A mid-range bathroom remodel involves making minor cosmetic changes that can enhance the overall look of the bathroom.

Tips: Focus on how updating the vanity can increase storage and improve the functionality of the space. Highlight how new tile and fixtures can transform the overall look of the bathroom and make it more modern.

#10: Roofing Replacement | Asphalt Shingles

  • Job Cost: $33,541
  • Resale Value: $20,561
  • Cost Recouped / ROI: 61.3%

Replacing your old roof with new asphalt shingles can have an ROI of 61.3%. This project involves removing old and worn-out shingles and replacing them with new ones.

Overview: A roofing replacement involves removing old or damaged shingles and replacing them with new ones. Asphalt shingles are a popular choice due to their affordability and durability.

Tips: Emphasize how new shingles can improve the overall look of the home and add an extra layer of protection from harsh weather conditions. Highlight the variety of colors and styles available to suit different personal preferences and the style of the home.

In conclusion, renovating your home can be a significant investment, and selecting the right project can have a major impact on the value of your property. Whether you choose to update your siding, replace your windows, or renovate your bathroom or kitchen, make sure to consider the potential return on investment. The projects highlighted in Remodeling.com’s 2023 Portland Cost vs. Value Report provide an excellent starting point for homeowners looking to add value to their homes while also enjoying the benefits of a newly renovated space.

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