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☆ These home remodeling projects offer the highest return on investment in history, report finds
  + stars: | 2024-05-20 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +3 min
And when it comes to the return on investment, some projects now offer the highest return values in history — with a few home upgrades averaging returns of nearly 200% for the first time ever — according to the 2024 Cost vs. Value report from Zonda Media, a housing market research and analytics firm. Garage door replacements offered the highest average return at 194%, followed by upgrading to a steel front door, with a 188% return on investment — both worth nearly double what they were last year, the report found. Curb appeal is keyForget a designer chef's kitchen, the projects offering the greatest returns in resale value are mostly related to curb appeal rather than more glamorous kitchen and bath remodels, according to Zonda's report. In fact, nine out of the top 10 projects with the highest return on investment were exterior improvement projects, the report found. Only three projects on Zonda's list can typically deliver even a 100% return on investment, including replacing the garage doors, upgrading to a steel front door and installing a stone veneer.
Persons: Clay DeKorne, Zonda's, DeKorne, Angelica Ferguson VonDrak, Todd Tomalak, Tomalak Organizations: Zonda Media, Finance, Photodisc, Getty Locations: Rhinebeck , New York
☆ Household appliances don't last like they used to, experts say. Consider this before calling a repair service
  + stars: | 2024-03-01 | by ( Jessica Dickler Ana Teresa Solá | Jessica Dickler | Ana Teresa Solá | ) www.cnbc.com   time to read: +3 min
Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021. However, the machine broke for the same reason again a few months later, and then again shortly after that. After the mechanic's third visit, Rathner said he told her, "You need to stop calling me and just buy a new dryer. watch nowHomeowners spend about 34% more on appliances than they did 15 years ago, "above and beyond inflation," Tomalak said. "Homeowners are purchasing appliances with more bells and whistles, but which become obsolete sooner and have more aspects to repair versus appliances years ago," he said.
Persons: Joe Raedle, Sara Rathner didn't, Rathner, Todd Tomalak, Tomalak, Brian Laung Aoaeh, Aoaeh Organizations: Getty, Finance, Zonda Media, Refashiond Ventures Locations: Miami , Florida, Richmond , Virginia, New York
☆ These home improvement projects pay off most — major kitchen and bath remodelings don't make the cut
  + stars: | 2023-05-31 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +3 min
watch nowMost homeowners are planning to remodel at some point down the road, but not everyone will get their money's worth in improved home value. Of all home improvement projects, the most popular are sparkling bathroom overhauls, according to newly released data from the Contractor Growth Network, followed by big-ticket kitchen and basement renovations. The projects offering the greatest returns in resale value are not new kitchens and baths, but rather projects related to a home's curb appeal. A minor kitchen remodeling — such as painting and updating the backsplash — did provide high returns, but major kitchen and bathroom renovations did not, the Zonda survey found. The average homeowner shelled out $3,890 on renovations and remodeling in the past year alone, the report found.
Persons: Todd Tomalak, Tomalak, They'll, Sophia Bera Daigle Organizations: Finance, Zonda Media, HGTV, CNBC, Homeowners, Federal Reserve, Real, Gen Locations: Austin , Texas
☆ Ready to remodel? Here are the home projects that will get you the best return on your investment
  + stars: | 2023-03-27 | by ( Jessica Dickler | ) www.cnbc.com   time to read: +3 min
The average homeowner shelled out $3,890 on renovations and remodeling in the past year alone, the report found. In some cases, they may get that money back when it's time to sell, but not all home renovations deliver the same return on investment. Overall, homeowners are getting just a 60% return on their renovation investments, according to the recently released 2023 Cost vs. Value report from Zonda Media, a housing market research and analytics firm. A minor kitchen remodel — like painting and updating the backsplash — did provide high returns, but major kitchen and bathroom remodels did not, the Zonda survey found. Even though both construction and financing costs are up, this decade could be "the golden age of remodeling," Tomalak said.
☆ Lumber prices have defied a cooling housing market to climb 26% in October, but surging mortgage rates will keep a lid on further upside
  + stars: | 2022-10-20 | by ( Matthew Fox | ) www.businessinsider.com   time to read: +3 min
Lumber prices have rallied 26% so far in October, but further gains may be limited as the housing market slows down. "At 7% interest rates, I wouldn't expect lumber to do much for a while," MaterialsXChange's Ashley Boeckholt said. In tandem with the Federal Reserve's aggressive interest rate hikes that started in March of this year, mortgage rates have soared. That's good news for homebuilders, as long as demand returns to the housing market, but one economist is skeptical. And that plays right into Boeckholt's view of a lumber market that is likely to flatline from here.
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