American Heritage Homes

Custom Homes for Sale in St. George

Home Upgrades That Make the Most Financial Sense

Thanks to our friend Ben McAffee at First Colony Mortgage for sharing some great tips on which home improvement projects pay back in the long run. If you’re looking to do some home improvements and don’t know where to start to get the best financial sense upgrade these tips are sure to help you make the best decision.

One of the best parts of being a homeowner is the freedom to customize your space. From painting the walls to knocking them down, there are endless opportunities to put your own personal stamp on your home and make it yours. But before you dive into any renovations, you should know what they will cost you and how much of those costs you can expect to get back through appreciation when you sell.

To help make this easier for you, we looked to the latest Remodeling Impact Report from the National Association of Realtors® (NAR) to compile a list of the top three home improvement projects with the highest cost recovery for both inside and outside your home. Whether you’re considering buying a fixer-upper or want to make updates to your current home, here are the projects that will get you the biggest bang for your buck.

Hardwood Flooring Refinish — 100% Cost Recovery

If you have old wooden floors that are dinged up or hiding under carpet, a hardwood flooring refinish can completely revitalize your space at an affordable price. The project costs around $3,000, and not only are you likely to recoup all of your costs at resale, but it also can help cinch the deal with prospective buyers. If your old wooden floors are beyond repair or it’s just time for something new, brand new wood flooring is a good backup option with an estimated $5,500 price tag and a 91% cost recovery.

Insulation Upgrade — 76% Cost Recovery

Energy efficiency is all the rage these days, and for good reason. While a lot less glamorous than shiny new floors, an insulation upgrade is another worthwhile project. Not only will you recover about three-fourths of your costs when you sell (estimating a $2,100 investment), but think of the additional energy savings you’ll gain from having a better insulated home. According to the EPA, homeowners can save an average of 15% on heating and cooling costs simply by sealing their homes and adding insulation in attics, crawl spaces, and basement rim joists. It just makes sense.

HVAC Replacement — 67% Cost Recovery

Waiting until your furnace or AC unit completely conks out is never a good idea. If your HVAC system is struggling to keep up with Mother Nature (or if it’s more than 10 years old), it’s probably time to upgrade. The project can run you about $7,475, which is a hefty sum, so be sure to have a professional do an energy assessment on your home to determine what your needs are. As you’re weighing out which system to purchase, look for high-efficiency ENERGY STAR units, as they’ll reduce your energy consumption and can cut your annual energy bill by more than $115.

New Roof — 109% Cost Recovery

And the holy grail of home upgrades is … a new roof. With an estimated price tag of $7,500, you’re likely to make back all of your costs when you sell — and then some. A new roofing system has so many benefits. It helps with energy efficiency, reduces costs, improves comfort levels (preventing your heat or AC from escaping), and lessens the chance of water damage (no one wants a leaky roof!). Plus, it instantly boosts your curb appeal and adds value to your home. This project is a smart one for both homeowners who are planning to stay put for a while and those who are looking to sell soon.

New Garage Door — 87% Cost Recovery

While probably not at the top of your to-do list, a new garage door makes for a simple — yet smart — home improvement. Think improved functionality and enhanced curb appeal and aesthetics. It will set you back about $2,300 up front, but you’ll get most of that back with an 87% cost recovery. Plus, if you’re still dealing with a manual garage door, it’s time to stop living in the past and upgrade to automatic. While you’re at it, bring your garage into the future by opting for a smart door, which allows you to open and close your door right from your phone.

New Fiber-Cement Siding — 83% Cost Recovery

Durable and long-lasting, fiber-cement siding can completely transform the exterior of your house. While more expensive than its cheaper counterpart, vinyl, it is fire-resistant, moisture resistant, and insect- and rodent-resistant, and because it’s a thicker material, it can be texturized to resemble wood. Even with a relatively high cost recovery of 83%, installing new siding is no small undertaking; it will cost you around $18,000, according to the report. Still, if you’re flipping a house or your home is in desperate need of a new exterior, this could be a good option.

Upgrading your home can be tremendously rewarding and fun. Knowing what these projects will cost you in the long run can help you prioritize the projects that matter while making smart financial decisions.

 

 

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Client Testimonials
  • For months, we had been looking for housing in the St George area. On one fateful trip we decided to take a spur of the moment drive that proved to be providence for us. We went to have a look at the Sand Hollow Reservoir as neither of us had seen it yet. Approaching Dixie Springs Road we saw all the for sale signs and so we turned east toward the beautiful houses. We were immediately struck with the beauty, the quiet of the area due to the lack of traffic, and the amount of friendly smiles and waves we got from folks there!We went to the first model home we saw and almost bought from another builder but missed out on the purchase of a ready built new house - sold as we were actually on the way to close the deal. Providence number two this was because with the news of having lost that deal we shrugged our shoulders and walked right into the model home of AHH where we met Seth.
    We looked at a home they were building but opted out and it was then we started talking about building our own home. We were delighted while going through the planning process because we were able to build a house to exactly the specifications we envisioned. Soon we were watching our dream retirement home being built. From the beginning stages of planning the home with Seth and Yvonne to bothering Shem and Nephi and everyone else through the construction process, everyone was very helpful.
    Thank you all at AHH for all the patience, attention to the detail of planning and building our home, and for working so hard to make the timing of the closing happen as we needed for financing purposes. And thank you so very much for the beautiful house we now inhabit. It was an amazing process to behold and we look forward to many years of happiness in our new home.
    We would absolutely recommend AHH to any of our friends and family looking for housing. Everyone there is very down to earth, thoughtful, helpful, considerate, and patient as they work with you throughout the entire process. We believe anyone would be happy as we are in a home that will exceed your expectations.

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    Jim and Susan Clark