What are the best payoffs when remodeling and what are some that won’t get you much in return?

The Intelligencer, Sept. 2007 by Mary Lou Erk

 

Much has been written on this subject, but it bears repeating. Prices will fluctuate depending on contractor’s prices and the area that you live. These are helpful guidelines when considering updates for resale.


*Deck addition- Job cost appr. $6300 Est. Return-104.2%

*Siding replacement-Job cost appr. $7400 Est. Return 98.1%

*Bathroom addition-midrange-Job cost appr. $15,000 Est. Return 95%

*Bathroom remodel,midrange-Job cost approx. $10,000-Est. Return 89.3%

*Kitchen remodel-midrange-Job cost approx. $44,000 Est. Return 74.9%

 

Things to skip when thinking about resale value:


*Structured wiring- With the advent of wireless, buyers don’t see the added value of electrical upgrades. May actually become obsolete with new technology

*Heated floor-may be a nice feature but if buyers can’t see and feel it, they won’t attribute great value.

*Lever doorknob-New doorknobs on an entry door can make your home look inviting, but stay away from lever style. Most people dislike because the handle catches on pockets.

* Chandeliers-May not suit buyers’ taste-better to put in recessed lighting or plug-in lamps and take with you.

Looking for more tips? Don’t hesitate to call or email me. Fall is around the corner so now is a good time to begin planning your renovations!

 

For more information and free market analysis please call me!