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.
The most profitable renovation projects in Dallas were stone veneer accents, recouping 108 percent of the total project cost. Rounding out the top five were fiberglass attic insulation (101 percent recoup), garage door replacement (97 percent recoup), minor kitchen remodel (91 percent recoup), and basement remodel (83 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, upscale bathroom remodels were the least profitable project, recouping only half of the total project cost. Other unwise renovation projects for Dallas included composite deck additions, backup power generators, bathroom additions, and vinyl window replacements.
You can view the full Texas Remodel Valuation Report here before you dive into your next home renovation project.