Posts Tagged ‘Home Remodeling’
Remodeling projects that add value
January 24th, 2012 | 
Author: 
According to Remodeling magazine’s 2011-2012 “Cost vs. Value Report,” replacement projects perform better in resale value than other types of remodeling projects. In fact, seven out of the top 10 projects were siding-, window- and door- replacement projects.
The good news for cost-conscious homeowners is that
investing in your home in a way that pays off at resale doesn’t have to cost a lot. The high value of most replacements can be
contributed to the relatively low cost of these projects. What’s more, the majority of replacement projects immediately improve curb appeal, making the home more attractive to buyers.
Based on interviews with real estate professionals throughout the country, the Remodeling report found that the top project is fiber-cement siding, which typically recoups 78 percent of costs. Fiber-cement siding has been in the No.1 spot for six of the seven years since it was added to the report.
Moving up two spots in the rankings is the minor kitchen remodel, now coming in at fourth place at 72 percent. Considered an “interior replacement” project, this is the least expensive way to give an existing kitchen a complete facelift. It is typically done by adding new cabinet door and drawer fronts and hardware, new countertops and new appliances.
The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings.
If you are thinking of perhaps putting your house on the market, please feel free to give us a call, and we would be happy to meet with you and answer any questions you might have about getting your house or townhouse ready to sell. Also, feel free to go to www.Bedminster-Real-Estate.com for more valuable information about buying and selling in Bedminster.
Cost vs. Value – Bedminster Real Estate
According to Remodeling Magazine’s 2010-2011 “Cost vs. Value Report,” even despite the challenging economy, investing in your home still pays off at resale – and it doesn’t have to cost a lot. The report also showed that home sellers consider first impressions to be a top priority, with 9 out of the top 13 projects being exterior replacements that contribute to curb appeal and help attract buyers.
Based on interviews with real estate professionals throughout the country, the Remodeling report found that the top two projects were also the least expensive. A mid-range entry door replacement returns more than 102.1 percent of project costs upon resale, followed by a mid-range garage door replacement, at 83 percent.
While considered upscale, the third-best project, fiber-cement siding replacement, has been a consistently high performer, recouping 80 percent of costs this year, and also showing the smallest cost increase of any project (less than 1 percent).
The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings.
Click here to access the “Cost vs. Value” website, where you can download data for 80 cities.
Some additional numbers for those of you who are wondering about kitchens and baths – – a minor kitchen remodel (refacing cabinets, changing out hardware, replacing oven and cooktop, changing countertops, painting trim and refreshing the floor) returns almost 73%. The addition of a deck also returns about 73%.
Surprisingly, according to this study a bathroom renovation returns only about 53%.
Please note that these numbers are based on national averages. I will admit that I have a hard time getting my head around these numbers – – I think there are too many variables… but I suppose that it’s all relative. Projects that improve first impressions allow the biggest bang for the buck and kitchens are more valuable than bathrooms.
Visit Bedminster Real Estate to see what’s selling in town – new kitchens and bathrooms or not!
Posted in Bedminster Real Estate, General real estate information, Homeowner Tips | 
Tags: Bedminster Real Estate, Home Remodeling | 
Comments Closed