Jan
18
Remodeling Cost versus Value Report 2009-2010
Posted by Catherine Jeffrey under For Buyers, For Sellers, For Realty Professionals, General Information
I was reading in my January REALTOR Magazine about the Remodeling Cost vs. Value Report. I found it very interesting that the #1 project that brings 100% of the cost back to the seller is a moderately priced new front door! To me, that verifies the importance of first impressions. Every buyer stands at the front door for anywhere from 1 to 3 minutes waiting for the realtor to get the key out and unlock the door. A first impression is made right there.
Also, I found it very interesting that although the perception is that builders and remodelers are hungry for work, nation-wide the project costs went up, though at a slower rate than previous years.
Upgrading Kitchens and Baths are still good bets but, skip the upscale projects and stick to mid-range remodels. They bring a larger return on your investment.
Of the top 10 projects with the best return, six of them were replacing siding and windows. Two more popular projects included adding a deck, and adding an attic bedroom, reinforceing the notion that boosting the amount of livable space will attract buyers who expect more space for their Money!
Overall, home owners recouped 63.8% of their investment in 33 different home improvement projects, according to REALTORS who responded to the survey.
Here is a link to the article:
http://www.realtor.org/rmohome_and_design/Articles/1001_costvsvalue_2009
To search for homes for sale in Fredericksburg: www.fredericksburgtxhomes.com

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