What has changed?

A lot, according to the 2009-2010 Cost vs. Value survey published by Hanley Wood. Remember only a few years ago when home values kept going up and equity loans were plentiful? At that time the common remodel was the extra bedroom or bath with the euro fixtures, the large addition to the house, a new kitchen with the fancy stove and other hi tech appliances, swimming pools, hot tubs and outside barbecues. It was a remodeling fest with some people over-improving their homes for the neighborhood they lived in. While some of that remodeling is still going, today the majority of remodeling projects are smaller and more cost-effective improvements. Since the peakremodeling year of 2005, exterior replacement projects have gone to the top of the chart. Front entry doors rank the highest in the return on investment along with siding and window replacement. Why? Because these types of improvements not only increase the curb appeal of the home but can also make your home more energy efficient while improving the decor inside the house.

An example of value added remodeling is the replacement of an existing window with a bay or bow style window. This will increase the size perception of a room inside while adding a new dimension outside the house. Replacing windows and installing new siding with some decorative window trim can make an old home look new again. For a small investment you can change the largest door in your house, the garage door. This door is usually facing the street and when changed has a big impact on the curb appeal of your home.

Replacing the front entry door on a home resulted in the largest return on investment, (125.4% nationally).