Replacement
Devout followers of the Cost vs. Value Report, people with photographic memories, and pack rats with easy access to a library of REMODELING back issues know that replacement projects are historically the most cost-effective remodels for homeowners to undertake. This year is no exception.
Of the top 10 projects as measured by cost recouped at resale, seven — including the first three — are replacement projects. Nationally, fiber cement siding replacement returned 88% of the investment. Midrange vinyl siding replacement was nipping at its heels at 87.2%, and midrange wood window replacement edged out minor kitchen remodeling for third at 85.3%. Only roofing replacement — at either price point — finished outside the top 10 projects, at 73.9% for a midrange job, and 72.9% for an upscale one.
Energy efficiency in the face of high fuel prices is a logical explanation, but Charlie Gindele, president of Dial One Window Replacement Specialists, Santa Ana, Calif., calls that a rationalization. “The thing that motivates people, by and large, is the aesthetics,” he says.
Amy Mills Siler, a salesperson at Joan Ryder and Associates Real Estate, in Bel Air, Md., agrees that most home buyers are looking for a house with curb appeal. “If you drive up to a house with dingy aluminum siding and old windows, the buyer automatically gets a bad taste in the mouth,” she says. “The old saying ‘Don’t judge a book by its cover’ falls on deaf ears with most clients.”
Working in Orange County, Calif., where housing prices are through the roof, Gindele says that the return on the investment is just an added bonus to homeowners who undertake the projects for a variety of benefits. “They do it because they want the ease of operation, the beauty, the sound-deadening component,” among other things, he says. “But it is nice to recover your expense.”
Replace Roof – Mid-Range
Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of 235-pound fiberglass asphalt shingles (min. 25-year warranty) with new felt underlayment, galvanized drip edge, and mill-finish aluminum flashing. Assume a 5-square hip roof; custom flashing at two average- sized skylights; and custom cap treatment at vented ridge.
Replace Roof – Upscale
Remove existing roofing to bare wood sheathing and dispose of properly. Install 30 squares of standing seam metal, formed on site into 16-inch panels using factory-enameled roll steel; double-lock all seams. Use custom brake-bent flashing from same material for drip edge and all flashing at roof-wall intersections. Assume a 5-square hip roof; custom flashing at two average-sized skylights; and custom cap treatment at vented ridge. Apply over new felt underlayment; use rubberized asphalt membrane at eaves, valleys, and all penetrations.
Replace Siding – Mid-Range
Replace 1,250 square feet of existing siding with new vinyl siding, including all trim.
Replace Siding – Upscale (fiber-cement)
Replace 1,250 square feet of existing siding with new fiber-cement siding, factory pre-primed and pre-painted – including all 4/4 and 5/4 trim using either fiber-cement boards or cellular PVC.
Replace Siding – Upscale (vinyl)
Replace 1,250 square feet of existing siding with new foam-backed vinyl siding, including factory trim at all openings and corners.
Replace Windows – Mid-Range (wood)
Replace 10 existing 3-by-5-foot double-hung windows with insulated wood replacement windows, exterior clad in vinyl or aluminum. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.
Replace Windows – Mid-Range (vinyl)
Replace 10 existing 3-by-5-foot double-hung windows with insulated vinyl replacement windows. Wrap existing exterior trim as required to match. Do not disturb existing interior trim.
Replace Windows – Upscale (wood)
Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated-divided-light wood windows. Interior finish of stained hardwood; exterior finish of custom-color aluminum cladding. Trim exterior to match existing; do not disturb existing interior trim.
Replace Windows – Upscale (vinyl)
Replace 10 existing 3-by-5-foot double-hung windows with insulated, low-E, simulated-divided-light vinyl windows. Simulated woodgrain interior finish; custom-color exterior finish. Trim exterior to match existing; do not disturb existing interior trim.