Video | Choose remodeling projects that pay off for your home
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As spring approaches and the economy remains strong, homeowners are ready to turn their remodeling dreams into reality.
The most recent Leading Indicator of Remodeling Activity (LIRA) released from the Joint Center for Housing Studies of Harvard University anticipates spending on improvements and repairs will approach $340 billion in 2018, an increase of 7.5 percent from 2017.
Additional data from Metrostudy’s Residential Remodeling Index forecasts a 5.2 percent rise in home improvement activity for the current year, predicting there will be more than 12.5 million $1,000-or-more projects launched in 2018.
While remodeling activity grows, homeowners are faced with deciding how to get the most from their investment.
The 31st AnnualRemodeling Cost Vs. Value Report takes a deep dive into the 21 most popular remodeling projects in 149 markets. It examines trends and also compares the values those projects retain at resale in 100 U.S. markets. The projects with the largest return on investments were:
- 98.3% Garage Door Replacement
- 97.1% Manufactured Stone Veneer
- 91.3% Entry Door Replacement (steel)
- 82.8% Deck Addition
- 81.1% Minor Kitchen Remodel
Which Projects Make the Most Sense?
With projections of increased spending for home improvements in 2018, home expert Danny Lipford offered advice to help consumers plan smart and optimize their remodeling investment.
According to Lipford, it’s important for homeowners to keep the big picture in mind when taking on remodeling projects. “If a homeowner is finishing a basement, or making an addition for example,” Lipford said, “their focus is typically on the finished product – attractive, usable living space. It’s easy for people to overlook some of the other improvements that can help optimize their remodeling investment. At the top of my list is adding more insulation to the home.”
Insulation Adds Up
To share advice on the benefits of insulation to the home, Lipford explained in a video how easy is it to add insulation during remodeling projects, and walked through the many benefits it brings to homes and homeowners alike.
Lipford noted that adding insulation to the home is one way for homeowners will see immediate benefits with reduced energy bills and increased comfort inside the home. In the segment, he introduces viewers to stone wool insulation as his go-to choice for its unique properties of fire resistance and water repellency.
ROCKWOOL, formerly known in the U.S. as ROXUL, is the world's largest producer of stone wool insulation. This type of insulation is made from actual stone, so it is naturally fire resistant and offers an added layer of protection in the event of a home fire. In addition, stone wool insulation is water repellent. It prevents mold and mildew growth thereby contributing to a healthier home. Finally, Lipford discussed the soundproofing benefits that come with increasing a home’s insulation.
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