Thinking of taking on a remodeling project this year? Read this first. A new report from the Texas Association of Realtors outlines the renovation trends that were the most profitable for homeowners in 2015, simply put, where you get the most bang for your buck.
To determine which projects had the greatest return on investment, the report analyzed 2015 renovation recoup costs in Austin, Dallas, Houston, El Paso, McAllen, and San Antonio. Remodeling projects that increased the functionality and sustainability of the home by improving curb appeal or energy efficiency proved to be the most worthwhile investments for a homeowner.
Austin showed the highest recoup costs among Texas’ major markets (finally some good real estate news). The most profitable renovation projects were stone veneer accents, recouping 163 percent of the total project cost. Rounding out the top five were fiberglass attic insulation (158 percent recoup), upscale garage door replacement (109 percent recoup), basement remodel (92 percent recoup), and fiberglass entry door replacement (92 percent).
In Texas, fiberglass attic insulation ranked among the top five projects in most markets, recouping up to 163 percent of project costs. Manufactured stone veneer projects were also popular across the state, recouping up to 158 percent of project costs.
Where should you not spend your money? In 2015, backup power generators were the least profitable project, recouping less than half of the total project cost. Additionally, wood deck additions showed the largest decline in recoup cost in Austin, recouping only 71 percent. Other unwise renovation projects for Austin included master suite additions and bathroom additions.
You can view the full Texas Remodel Valuation Report here before you dive into your next home renovation project.