When I did my Green Designation one of the things that we looked at were what types of upgrades will get you the most bang for your buck. Zonda Media puts out an annual report that we took a look at and I wanted to share with you some of the interesting things I found, because s it turns out the upgrades that get you the most return on your investment are also the ones that make your home more energy efficient. The photo below is a chart from 2021 numbers, they are somewhat similar, but not 100% accurate. The most accurate 2023 numbers are included below in my article.
1. Manufactured Stone Veneer
With an average cost of $11,675, and a resale value of $12,627, you are able to recoup 102.8% of your investment. This isn't the only siding and exterior upgrades that can bring you a great return on investment. Replacing your siding with Vinyl can get you a return of 98%, and Fiber cement of 74%. Upgrading your siding not only gives your home better curb appeal, but it helps to seal in your home and insulate it, which is very nice for potential buyers who are looking to keep bills low with an energy efficient home. Stone or brick are both really great options for siding whether as a portion or an entirety because of their ability to resist heat and cold.
2. Garage Door Replacement
With an average cost of $4,724, add a resale value of $4,958, you are able to recoup 105% of your investment. Exterior door in general are a great way to help seal your home and reduce drafts. Garage doors certainly offer the highest return on your investment and are often overlooked buy homeowners looking to sell, but also replacing your entry door with a steel front door can get you a 53% return and having a fiberglass Grand entrance can get you a 93% return. Both of these also help with the curb appeal of your home and if you are really going for energy efficiency painting the color of your front door in a cool tone will help to reduce heat buildup happening. Making sure that all of your exterior doors are insulated, is a great way to market an energy efficient home since it will offer a well-sealed exterior and additional insulation.
3. Minor Kitchen Remodel
With a cost of $28,040 and a return of $22,515 you are able to recoup 80% of your investment. This isn't your typical green upgrade but, this could be a great opportunity to install some new energy star appliances that will not only give you an upgraded kitchen look and feel with the added bonus of being energy efficient. I also wanted to add that more is not always more when it comes to kitchen remodels. Major kitchen upgrade will only get you a 41% return, and making it more upscale will lower that even more to only 30%. So, the old idea of throwing all your money into the kitchen and bathrooms is not always accurate.
4. Window Replacement to Vinyl
With an average cost of $21,802 and a resale value of $12,674 , you are able to recoup 58.1% of your investment. As we know vinyl is not the only option for windows though so if you are updating your wooden windows to newer wood this will get you a return of 52%. Wood takes more upkeep and maintenance which a lot of homeowners do not find appealing. Repainting them is an additional yearly cost and the paint gas off from the maintenance is also something to take into consideration. However, if you are trying to be appealing to the green buyer wood is a more organic product option so it really depends on what you would like to offer here. Just as with your exterior doors, exterior windows are a great way to market an energy efficient home in that it will be well sealed with no drafts and the insulation options on these newer windows can really send your home to the next level.
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