Are you wondering which home improvements would earn the best return on investment with Southwest Missouri homebuyers in 2019?
While the exact answer depends on a number of factors unique to your home, Remodeling magazine offers guidance in its annual 2019 Cost vs. Value Report, which includes a survey of over 4,600 real estate professionals nationwide. The report analyzed 22 remodeling projects in 136 markets, including Springfield.
Return on investment was estimated by comparing the average cost of each project with the value retained at resale, and the results were published at the national, regional and market levels.
Here’s a summary of the top 10 home renovations of 2019 for Springfield, Missouri based on estimates in this year’s report.
#1: Steel Entry Door Replacement
A new steel entry door earns an outstanding 109.9% estimated return in Springfield for 2019, according to the report.
As part of your home’s first impression on potential buyers, a quality front door adds more than just curb appeal. It also insulates your home by preventing leaks, keeping residents comfortable and utility bills down.
#2: Siding Replacement
Replacing exterior siding returns about 75.6% of its value at resale in Springfield and may also include trim at the corners and openings. This project also performs well on a national level.
It’s a great option for homeowners looking for a quick return, according to TheStreet.com, and it offers attractive energy saving benefits.
#3: Manufactured Stone Veneer
An improvement that adds upscale character and works with almost any budget, manufactured stone veneer earns a 75.6% return in Springfield.
It’s made from concrete fashioned to mimic the look of natural stone and serves as an accent rather than a structural component of the wall. Manufactured stone veneer creates the effect of a grand entrance when applied around the front door, or it can lend a more substantial appearance to front porch columns.
#4: Mid-Range Minor Kitchen Remodel
A nice alternative to a full kitchen renovation, a mid-range minor remodel retains approximately 64.4% of its value at resale. The project includes a number of updates to boost the style and convenience of your kitchen.
- Replace cabinet fronts
- New cabinet hardware
- New countertops
- New flooring
- Updated sink and faucet
- Energy efficient appliances
- Fresh paint for walls, trim and ceiling
#5: Mid-Range Bathroom Addition
A mid-range bathroom addition can include a number of stylish and functional basics for a nice enhancement to a master or guest bedroom suite. It earns a 57.7% return in Springfield.
- Vanity top, sink and faucets
- Tub, shower and toilet
- Tile walls and floor
- Lighting fixtures and electrical wiring
- Linen closet, medicine cabinet and other storage
- Painted trim
#6: Upscale Bathroom Addition
If you’re looking for a larger bathroom addition with more spa-like amenities, an upscale bathroom addition clocked in with an average return of 56.4% in the 2019 Springfield report.
- Body spray fixtures
- Glass shower enclosures
- Recessed shower caddy
- Freestanding tubs
- Natural stone countertops
- In-floor heating
- Wall accent strips
#7: Mid-Range Major Kitchen Remodel
If a more substantial kitchen renovation is in order, a major mid-range remodel returns about 54.8% of its value at resale. This is a good option for updating the functional layout of the space and can be customized to include a number of buyer-pleasing amenities such as those listed below:
- Semi-custom cabinets
- Island addition
- Custom countertops
- Double-tub sink with faucet
- Garbage disposal
- Energy efficient range with vented hood
- Custom lighting fixtures
- New flooring
- Fresh paint for walls, trim and ceiling
#8: Vinyl Window Replacement
Insulated vinyl replacement windows can give your home an affordable energy efficiency benefit along with a 54.0% average return in the Springfield area.
With a high quality wood-like appearance, vinyl is a low-maintenance option that doesn’t peel, crack or warp. Options include low-e glazing to minimize infrared and ultraviolet light penetration, and custom colors to match the existing exterior.
#9: Composite Deck Addition
Made from an innovative wood-plastic material, composite decking gives you durable, sustainable quality and earns a Springfield ROI of 51.7%.
A composite deck can include built-in bench seating, planters and stairs. Installed in a simple linear pattern, it resists mold, rot, cracking, warping, splintering, scratching and fading, and is easy to clean.
#10: Wood Deck Addition
A wood deck addition built with pressure-treated wood yields an estimated 50.7% return in Springfield.
A sturdy, versatile option for homebuyers who prefer natural materials, a pressure-treated wood deck resists insects, fungus and rot. Like a composite deck, it features deck boards arranged in a simple linear pattern and may include stairs, railings, planters and benches.
Still wondering which home renovations would improve your home value the most?
Call Elite Renovations and Design at 417-708-8393 or contact us online. Our full-service home improvement contractors will help you achieve the results you’re looking for!
