Remodeling Magazine has released it’s 2010 vs 2011 Cost vs Value index that evaluates the cost of 35 popular home remodeling projects against the projected value at resale. To no surprise not all home remodeling projects are created equal, and not all home remodeling projects return is the same at resale.
An oft hear comment by sellers could not be further from the truth:
I put in over $50,000 in improvements, I want to get it all back
The four highest value add improvements cited are:
– Steel Exterior Door Replacement – 102.1%
– Garage Door Replacement – 83.9%
– Minor Kitchen Remodel – 72.8%
– Wood Deck Addition – 72.8%
The four projects that yielded the lowest return:
– Home Office Remodel – 45.8%
– Backup Power Generator – 48.5%
– Sunroom Addition – 48.6%
– Bathroom Addition – 53.3%
Check out the return for the 35 projects in the Middle Atlantic region.
When choosing a remodeling project for your home there are two important things to remember. Keep the project in line with other homes in your neighborhood. If you want to recoup the highest amount of your project investment do not over improve for your area. Secondly, regardless of the home improvements you make, do not expect to get your investment back dollar for dollar at resale.
Wallingford Real Estate – Wallingford, PA 19086
