It was the number one home renovation project in America last year, providing the most home value per dollar spent – and the average cost was under $4,000.
3.7 million Americans replaced old windows and doors for an average cost of $3,422 last year, proving that understated home renovations – you don’t need an epic mancave or a fourth storey to your house – can be the most lucrative.
It’s clear replacement windows and doors, while unspectacular, are always coveted. According to Remodleing magazine’s poll of cost-effective home renovations, replacing an old exterior door with a new one recoups around 75% of its initial outlay at sale.
Window replacements are just as valuable: New windows can earn over 70% of its cost back at sale, while also providing tertiary worth in curb appeal and thermal performance.
This isn’t because people are looking for cheaper solutions with their home renovations either; Americans invested a record amount in home renovations, touching $424 billion according to Improving America’s Housing 2019. The surge in home reno investments correlates to the U.S.’s millions of old homes across the country.
“The aging of the housing stock has been a boon to the remodeling industry,” Abbe Will, Associate Project Director in Harvard’s Remodeling Futures Program, explained. Roughly 40% of America’s 137 million homes – which includes about 55 million houses – are over 50 years old.
So, if you’re considering adding value to your home for resale or refresh your aesthetics, don’t focus solely on the flashy overhauls. Minor improvements can have a major impact – starting with a low key window or door replacement.