The 5 Most Valuable Remodeling Projects in Miami

by James McClister

December 15, 2014

Of the many remodeling projects available to homeowners, which ones add the most value to homes in Miami?

One of the undeniable perks of homeownership is the opportunity to renovate your living space, to remodel and craft a residence that truly reflects who you are.

With that said, though, not all remodeling projects are created equal, and some – especially in a unique marketplace like Miami’s – are more beneficial to your home’s value than others.

For some perspective on the matter, we consulted the Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com), a massively detailed examination of not only the cost of home remodeling projects, but also the value they add to a home.

Using that report, we uncovered the most valuable remodeling projects in Miami, which are:

1. Entry Door Replacement (Steel) – As the victim of natural battery, Miami residents understand the value of a strong door – and so do insurance companies. With ferocious hurricanes ripping through buildings and homes alike, Miami residents appreciate a sturdy door, which explains why the Cost vs. Value Report found homeowners who purchase steel doors recoup 153.3 percent of its $1,137 cost upon resell. It’s especially telling considering the national average return on steel doors is only 96.6 percent. According to local real estate veteran Hazel Goldman of Hazel Homes and RE/MAX Advanced Realty, one of the big reasons steel doors are so popular in Miami is that insurance companies often require residences to have some sort of “hurricane proof” door covering, and steel doors easily qualify as such. Additionally, because of the city’s humidity, wooden doors tend to warp and rot without regular upkeep. Steel doors are simply more convenient.

2. Bathroom Remodel – When you remodel any portion of your home, you expect to recoup some losses, but the amount people are paying in Miami for a newly remodeled bathroom is astounding. For a job costing upwards of $15,000, Miami residents can expect a 134.9 percent return on their investment – a huge leap from the 72.5 percent recouped nationally.

3. Deck Addition (wood) – If you’re thinking of installing a deck, err on the side of appreciation and opt for wood in lieu of plastic or composite materials. In the Magic City, a wood deck costing $8,795 will garner a 116.9 percent return. With wood decks nationally only seeing 87.4 percent in recouped losses, you might expect a little depreciation, but it’s Miami’s heat that keeps wood valuable. Other deck materials tend to trap heat, making them unbearable on hot days, but a light wood can stay cool all summer long (or all year round, for Miami residents.)

4. Roofing Replacement – Here’s another example of how powerful the impact of strong, hurricane force winds have on South Florida homes. Nationally, a new roof averages a 67.6 percent return, but in Miami, an $18,428 roof replacement typically recoups 116.4 percent of the cost – that’s a $3,000 profit.

5. Garage Door Replacement – Finally, the Cost vs. Value Report showed Miami buyers are particularly fond of new garage doors, willing to pay 116 percent of the $1,464 cost. Nationally, garage doors normally fetch an 83.7 percent return, but again, Miami plays home to a lovely but sometimes devastating climate. Sturdy entryways are a must for protecting both families and their often pricey vehicles.