Curb Appeal is a Must!
If
your home has curb appeal, you'll be able to sell it quickly and for top
dollar. That's why REALTORS® rate exterior home remodeling projects as the most
valuable homeowners can make.
Many homeowners are confused about
which projects will provide the most return on investment as they prepare their
homes for the market.
The 2014 Remodeling Cost vs. Value
Report, co-sponsored by the National Association of Realtors and Remodeling
magazine, outlines the costs and resale returns on the most popular home improvement
projects.
Realtors know which home features are
important to buyers in their area. Projects such as a new entry door, siding
and window replacements can recoup homeowners more than 78 percent of costs
upon resale.
So why remodel anything if it's not
going to give you back 100%? It's because the first impression a homebuyer gets
is priceless. You want the buyer to choose your home, and quit looking for
something better.
If the buyer doesn't like what he
sees, you won't get another chance to make any kind of impression.
So which home improvement projects
will net the most return?
Eight of the top 10 most
cost-effective projects are exterior projects.
Replacing your front door with a steel
entry will cost $1,100 on average, but you'll get nearly 97% of what you spent
back in your pocket.
The second most popular improvement is
a wood deck addition, which will return over 87 percent of costs, similar to
the return on fiber-cement siding. Vinyl siding returns a little over 78
percent of costs.
A midrange garage door replacement
returns nearly 84 percent while an upscale garage door replacement offers 82.9
percent of costs recouped. Wood window replacements recoup over 79% of costs
and vinyl windows return nearly as much.
Rounding the top 10 projects are an
attic bedroom and minor kitchen remodel. These are important too, but you've
got to pique buyers' interest first.
The good news is that the return for
all projects is higher in the last two years. To find out what the best return
on home improvements is in your area, talk with your REALTOR.
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