ALEXANDRIA, Va., Jan. 26, 2017 /PRNewswire-USNewswire/ -- For the second year in a row, Remodeling Magazine's Cost v. Value Report concludes that a fiberglass insulation upgrade is the home remodeling project that provides the largest percentage return on investment for homeowners. The report compares the average costs for 29 popular home remodeling projects with the value those projects retain in 99 U.S. markets on a national and regional level. A fiberglass insulation upgrade proved to add the greatest value to the home at 108 percent of the cost of the project, according to Hanley Wood, publisher of Remodeling Magazine.
The report estimated the average cost for this upgrade is $1,343 nationwide. The assessment on the potential return gained by the homeowner at resale was provided by real estate professionals responding to the annual survey. Realtors estimated that one year after a fiberglass attic insulation upgrade, the project would increase the value of the home by $1,446. The research specifically estimated the cost of adding blown-in loose fill fiberglass insulation into a 35x30 attic to reach an R-30 insulation value.
Again this year, as it did when it first appeared in the Cost v. Value report in 2016, adding fiberglass insulation was the only project that had an average national return of more than 100 percent. By comparison, the average cost and average return at resale for the 29 projects in this year's report amounted to a 64.3 percent return if the home was sold within one year of completing the renovation.
"When you consider that this is a relatively small spend for a home renovation project that will increase homeowner comfort, reduce their home energy costs and add value to their largest investment, this is compelling news," said Curt Rich, President and CEO of the North American Insulation Manufacturers Association. "It also supports this year's trend of small, incremental improvements adding value for homeowners."
NAIMA is the association for North American manufacturers of fiber glass, rock wool, and slag wool insulation products and is an authoritative resource on energy-efficiency, sustainable performance, and the application and safety of these insulation products.
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SOURCE North American Insulation Manufacturers Association