Where Should You Start?
- Kitchen. In addition to wood decks and siding, window replacements and kitchen remodels also returned a relatively high percentage of remodeling costs on a national basis. All types of window replacements – upscale and midrange wood and upscale and midscale vinyl – returned more than 76 percent of costs. A major midrange kitchen remodel returned 76.0 percent of project costs, while a minor midrange kitchen remodel returned 79.5 percent of costs.
- Bathroom. On a national level, bathroom remodels, while still a relatively good investment, do not return as high a percentage as in previous years. A midrange bathroom remodel was estimated to return 74.4 percent on resale, comparable to a midrange attic-to-bedroom conversion, at 73.6 percent of costs recouped, and a midrange basement remodel, at 72.7 percent of costs recouped.
Where Should You Avoid?
As in last year’s report, the least profitable remodeling projects in terms of resale value were home office remodels, sunroom additions, and back-up power generators, returning only 54.4 percent, 56.6 percent, and 57.1 percent, respectively, of project costs.
Just Trying to Come Out on Top?
Because many homeowners may be unable to totally remodel a room or two, or buy a storage shed or deck for the backyard, a good rule-of-thumb is to market your home in "move in" condition. Examples of "move-in ready" homes are:
- No Trash - if you don't want those shirts in the closet or that desk in the back room, throw them away or donate them. Don't leave them for your buyer to dispose of.
- Vacuum and dust, sweep and mop
- Wipe down baseboards, ceiling fans, windows, etc.
Make sure that when a potential buyer comes in to your home, they see clean and smell clean. Buyers also like light. Keep you curtains pulled back or leave on lights in not-so-well-lit places.
A good Realtor will market and sell your home. You just need to make it marketable!
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