Whether you’re looking to put in that new kitchen island you’ve always wanted, replace that leaky roof, turn the attic into a spare bedroom, or remodel the bathroom, home improvement projects are a great investment. Not only do they look great, but the return on investment (ROI) can be great, too. ROI is the benefit to the investor resulting from an investment of some resource. A high ROI means that the investment you gain compares favorably to the cost of the investment. Below are the top seven home improvement projects for ROI in Indianapolis, according to the 2015 Cost vs. Value report.
1. Siding Replacement (Vinyl)
First impressions are everything, and the outside of your home is the first thing people see. That being said, what your home looks like from the outside can either make or break it in terms of resale value. Vinyl siding replacement has an 88.5 percent ROI, the highest ROI in Indianapolis. In comparison, the national average ROI for new siding is 80.7 percent.
2. Roofing Replacement
The ROI national average for a roof replacement is 71.6 percent, but in Indianapolis it’s 83 percent. Replacing a roof is an expensive job, but with an 83 percent ROI, it’s worth it. And if you remove shingles yourself, you can expect to save between $1,000-$3,000. Asphalt shingles are the most common roofing material used for residential roofing applications. If your roof needs replaced, consider using a dumpster for a more convenient way to dispose of shingles. Which size dumpster you need for your roofing project depends on the square footage of the roof.
General Guidelines for Roofing Dumpster Rentals:
- 10-20 squares of shingles (1,000-2,000 square feet) = 10 yard dumpster
- 30-40 squares of shingles (3,000-4,000 square feet) = 20 yard dumpster
- 50-60 squares of shingles (5,000-6,000 square feet) = 30-40 yard dumpster
3. Stone Veneer Accent
This year marks the first time the Cost vs. Value report presented data on projects that involved manufactured stone veneer. For a stone veneer accent, Indianapolis residents can expect an 80.3 percent ROI. The national average is 92.2 percent, which is the second-highest ROI of any project on the national level. According to the report, “the cost and value estimates are based on a project that calls for replacing 300 square feet of vinyl siding from the bottom third of a house with manufactured stone veneer, two separate layers of water-resistant barrier laid over bare sheathing, corrosion-resistant lath and fasteners, and a nominal 1/2-inch-thick mortar scratch coat and setting bed.”
4. Garage Door Replacement
Broken parts, shaking, inconsistent moving … These are all signs of a garage door needing to be replaced. Did you know that replacing your garage door has a 78.3 percent ROI in Indianapolis. That ROI national average is 88.4 percent. The price of a new garage door depends on the style, material, and size, but it’s not expensive as most homeowners might think.
5. Entry Door Replacement (Steel)
Much like with vinyl siding, the front door of a person’s home is one of the first things people see. And if you plan on having company over, the front door should be inviting. So, when should you replace an entry door? An entry door may need to be replaced if the wood has begun to deteriorate or rot, the joints on the door are coming loose, the exterior of the door can’t hold a finish, weather stripping and threshold doesn’t provide a good seal, the door has uninsulated, single pane glass, or a different style or design is desired. Replacing an entry door has a 67.1 percent ROI in Indianapolis. The national average is 101.8 percent, which is the highest ROI of any project. Of course, if your entry door doesn’t have any of the aforementioned problems, refinishing and refurbishing your door is also an option.
6. Attic Bedroom Remodel
An attic makes for a great storage room, but it can also make for a great guest bedroom. And just like a finished basement, a finished attic makes the interior of a home pop and stand out. If your attic is not finished, you will need to insulate it and add some flooring. From there, you can add a bed, dresser, lighting, paint, and anything else you want to include in the bedroom. The ROI national average for an attic bedroom remodel is 77.2 percent. In Indianapolis, it’s 63.5 percent.
7. Minor Kitchen Remodel
A minor kitchen remodel in Indianapolis has the same ROI as an attic bedroom remodel – 63.5 percent. The ROI national average is 79.3 percent. This doesn’t have to be a major overhaul, that’s why it’s called a minor remodel. This could include replacing the front of cabinets with new raised-panel wood doors and drawers, replacing wall oven and cooktop with new energy-efficient models, replacing laminate countertops, installing a new sink and faucet, a new paint job or wall covering, or removing and replacing resilient flooring.
Now that you know which home improvement projects have the best ROI rates in Indianapolis, it’s time to start planning! Budget Dumpster can help assist you, too, by providing an affordable Indianapolis roll-off dumpster that is perfect for any home improvement project. Give us a call at 1-866-284-6164 and secure a dumpster for all your waste removal needs.