Realtor Magazine conducts its annual Cost vs Value Report and this years study has some interesting conclusions.
According to the study, if a home seller is wondering what home improvement projects give them the best return on the sale of their home, they should think "curb appeal". You see, for buyers an appealing exterior can make or break the first impression. Exterior replacment projects are among the most valuable home improvements that sellers can invest in-starting with the front door.
A steel entry door headed this year's survey with an estimated 85.6% of the costs getting recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects, costing $1,137 on average.
This years survey included more that 3900 apprasiers, sales agents and brokers across the country. Other cost effective projects where good returns on investments occur are:
A wood deck addition where 77.3% of the cost is generally recouped: a garage door replacement where 75.7 percent of the cost is recouped; minor kitchen remodel where 75.4% of costs are recouped. These are to name a few and their are others.
These are all midrange projects in terms of cost which can be recouped. Notice how 100% of costs are never recouped which is a mistake some sellers make in assuming that all costs can be recopued when reselling their homes.
This is all good news for the remodeling industry also as it ends a six year decline. Lower construction costs and stabilizing housing prices were the principal reasons for the upturn.
For further information see the article itself in this month's Realtor Magazine or feel free to contact me at [email protected]
Author:David McKay Phone: 915-740-3632 Dated: February 5th 2013 Views: 2,756 About David: I have been with Exit West Realty since 2010 and prior to that have had 14 years of sales experience...
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