Slide Show | December 2007

8 Remodeling Projects That Pay Back

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Uncertainty about the falling housing market has left many homeowners hesitant to spend money on home improvements.

Yet, it could be a good time to remodel for many homeowners. Contractors are hungry for work and willing to bargain. With the right project, your returns could be substantial in a few years when the market rebounds and you want to sell.

Here are eight small to mid-range remodeling projects that could pay for themselves when the housing market improves.

See how you might recoup these remodeling bucks -- without a lot of banging.

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8 Remodeling Projects That Pay Back

Slide Show

8 Remodeling Projects That Pay Back

Reface Your Kitchen Cabinets

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Rather than redoing the entire kitchen for $25,000-$50,000, resurfacing your cabinets is an easy, cost-effective upgrade. Having your cabinets repainted will cost you between $4,000-$6,000, but handy homeowners might tackle the project themselves.

A slightly pricier option ($6,000 to $15,000 in most markets) is to have professionals refurbish your wood cabinets with a new look, giving them a darker finish (shown here) or lightening them up. While you're at it, upgrade the cabinet hardware. Small kitchen upgrades like these can recoup about 83% of the cost when its time to sell.

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Reface Your Kitchen Cabinets

Slide Show

8 Remodeling Projects That Pay Back

Replace the Sinks and Faucets

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Kitchen sinks may get no respect, but they sure get a lot of use. Sinks have come a long way in design and function. The current trend is toward under-mounted sinks (shown here), which looks great and are easier to clean. Such cast-iron and stainless steel sinks cost around $1,000.

If you replace a sink, you'll probably want to spring for a new kitchen faucet, too. Luxury high-neck faucets like the one shown here can cost upwards of $1,000. But the investment will likely pay off when you go to sell.

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Replace the Sinks and Faucets

Slide Show

8 Remodeling Projects That Pay Back

Replace Your Countertops

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Have your kitchen countertops seen better days? Natural stone counter tops, such as granite, have dominated the market for some time, but cheaper, traditional materials are now making a comeback.

Improved laminate countertops are the more affordable options at $25 to $50 per linear foot and silestone carries a $50-$125 per linear foot price tag. For a more expensive designer look, concrete or recycled glass might be attractive options.

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Replace Your Countertops

Slide Show

8 Remodeling Projects That Pay Back

Say Hello to New Toilets and Tubs

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Toilets and tubs fit over present plumbing, and are fairly easy to install. Local home improvement outlets usually provide installation at an additional cost. You could hire a plumber separately. Brave souls might even try to do it themselves.

Toilets cost between $200-$600. Tub prices run between $350-$1,000. A big catch: removing the old units generally costs between $300 and $550. But a midrange bathroom upgrade like this will typically recoup 78% when you sell your home. In considering a new toilet, shop for modern units that conserve water.

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Say Hello to New Toilets and Tubs

Slide Show

8 Remodeling Projects That Pay Back

Replace Your Bathroom Cabinets and Sinks

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Bathrooms sinks and vanities have become home fashion statements of late, with the rising popularity of sleek stand-alone bowl sinks or sturdy, undermounted vanities like the one shown here. Replacements can cost anywhere from $1,000-$3,000, plus installation.

Faucets range in price from $200-800. If you can afford the extra cost, consider going for it. When you sell your home, your upscale bathroom remodel should return around 70% of your investment.

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Replace Your Bathroom Cabinets and Sinks

Slide Show

8 Remodeling Projects That Pay Back

Re-Roofing Your Home

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Roofing is labor-intensive, so it's not cheap. The typical cost of laying a new roof on a mid-sized house is between $12,000-$15,000. Slate and tin roof installation costs more.

But most roofing shingles now come with a 20-year warranty, and upgraded shingles often come with a 30-50 year warranty. A new roof can make a big difference in the curbside appeal of your home.

Most roofing upgrades will recoup around 63% of their cost when you sell, according to experts.

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Re-Roofing Your Home

Slide Show

8 Remodeling Projects That Pay Back

Replace Your Home's Siding

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Most vinyl replacement jobs cost $10,000-$12,000 for a mid-sized home. But vinyl usually comes with a 20-year durability guarantee and it's quick and easy to install.

Fiber-cement is more expensive option at $13,000 for a typical job. The siding comes in numerous colors and textures, and has a 50 year durability guarantee. By replacing your siding you can expect to recoup up to 87% of the project's cost.

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Replace Your Home's Siding

Slide Show

8 Remodeling Projects That Pay Back

Replace Your Old Windows

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Besides keeping you warmer (the energy-efficiency of modern windows has soared compared to the windows of 20 years ago), new windows can be a major selling point. You can expect to recoup around 78% of an investment in window replacement. The average cost for replacement on a typical home: $10,000-$18,000.

On note of caution: Depending on your choice, you might have to replace the window frame as well as the trim, and that will cost you more.

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Replace Your Old Windows

Slide Show

8 Remodeling Projects That Pay Back

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