Remodeling Magazine has released their annual report for home remodeling projects, 2014 Cost vs. Value .   In the Northern VA area, the value of remodeling has increased in almost every category included in the study and is a further indication of a strong real estate market.  More remodeling projects are now returning a net profit to home owners, which has not been the case in years past, which will improve the market and help our overall economy.  Northern Virginia homeowners should keep this list in mind when the time comes to decide which home improvement project to tackle next.  The day will come for every home to go on the market to sell and the right planning will be rewarded with a good return on investment.  The only caveat I will issue is that every home, location, and condition is unique so please consult a knowledgeable and experienced REALTOR for advice. (Insert plug here for my services)

Over the last decade a predominant trend can be seen in the top home remodel projects in Northern Va.  As you can see by the list below most of the items in the top 10 are replacement items that improve a homes exterior.  This reinforces the fact that second only to location, Curb Appeal  ranks high to home buyers in Northern Va.

Curb appeal alone does not bring on a fast sale at top dollar or an exceptional return on investment; homebuyers are always looking for an updated kitchen and/or bathrooms as well.  A home with spectacular curb appeal but has a 1975 kitchen and harvest gold bathrooms may face challenges on the open market.  This is the driving factor of kitchen and bathroom improvements making cameos in the top 10 projects over the years. The reason these projects do not normally take the top spot for Cost vs. Value is that these projects can become very expensive. These rooms are the places that home owners put more of their own personal tastes in design and layout which can drive up costs hence driving the projects lower on the list of monetary returns.

Here is the top 10 home remodeling projects for the highest return on investment.

Project Type

Finish Level

Job Cost (avg)

ROI

Bathroom Remodel

Midrange

$15,942

98.5%

Attic Bedroom Remodel

Midrange

$49,154

98.6%

Siding Replacement (vinyl)

Midrange

$11,258

99.2%

Minor Kitchen Remodel

Midrange

$18,689

99.9%

Siding (foam back vinyl)

Upscale

$14,031

104.7%

Garage Door Replacement

Upscale

$2,779

110.4%

Deck Addition (wood)

Midrange

$9,380

112.3%

Garage Door Replacement

Midrange

$1,515

114%

Siding Replacement (cement)

Upscale

$13,167

123.9%

Entry Door Replacement

Midrange

$1,142

125%

(The report covers all of the Washington DC metro are including the Northern Va area, for the full report click here. )This report should be considered by homeowners when deciding on what home improvement projects to undertake in Northern VA, but should not be the foremost influence. A primary residence is a “home” first and an investment second. The most important return on investment when considering which home improvement projects to pick is the enjoyment that one will get from the improvement. This is especially important with homeowners that plan on residing in a property for a long time to come. The home is our castle and the enjoyment and memories we make in it cannot be measured by money alone so make that next home improvement project one that best improves your life.