Posts Tagged ‘resale value’

Upgrades That Still Deliver The Best Return On Your Investment For 2010

Tuesday, August 17th, 2010

Getting The Most Bang For Your Buck!

Remodeling is a better investment in some years than others.  This year has been among the worst if you’re hoping to recoup much money when you sell.  Homeowners are getting back just 64%, on average, of a project’s cost, compared with 87% in 2005, according to Remodeling Magazine’s 2009-2010 Cost vs. Value report.

Some projects pay back better than others.  You get more bang for the buck putting money into a basement or attic upgrade than adding a wing to the house.  Some of the highest-return projects include a deck addition and quick, conservatively priced replacements of old siding, entry door or windows.

Job Cost Resale Value Cost Recouped Project Job Cost Resale Value Cost Recouped
$49,476 $37,992 76.8% Attic Bedroom $49,346 $40,992 83.1%
$62,070 $40,447 65.2% Basement Remodel $62,067 $46,825 75.4%

Priorities For Remodeling In 2010

Thursday, August 12th, 2010

Priorities For Remodeling In 2010 Include Energy Efficiency, Organization & Comfort

A survey of nationwide potential new home buyers and existing home owners who are planning home improvements found top priorities to include price, energy-efficiency, organization and comfort.

Today’s homeowner is also looking for a home that fits the entire family – from a multi-tasking home office, to expanding storage space needs, to a living room that can adapt to advancements in home entertainment and technology.

As a group, low-cost replacements — new siding, windows, doors and roofing — deliver the best bang for the buck now, a considerably better payback than from a two-story remodel or a kitchen remodel, also in terms of resale value.

Given great improvements in materials, you can replace your inefficient 10- or 15-year-old products with highly efficient ones for a decent return when you sell.  In addition, the improvements help you save on heating and cooling bills.  Replacing leaky windows with highly efficient newer ones is a good example.  The technology behind the glass and frames has so improved that you’re tightening up your home’s weatherproofing in the process.  You get more comfort, and, from a real-estate point of view, new windows show off your house from the street.

Information from the cost vs. value report about remodeling.