Value Remodeling Versus Costs Recouped When Selling Home
Value remodeling versus costs recouped when selling home depends on project design, quality of materials, location, age and condition of the home. One of my clients installed different wood flooring in each room. The different types of wood floors in each room, did not flow well from room to room, seller could not recoup the remodeling costs.
Should you remodel when selling your home?
Are you selling your home in the next five years, and want to remodel your home? One resource is a costs versus value report which provides the value remodeling versus costs recouped when selling home. Complete data from the Remodeling 2016 Cost vs. Value Report by © 2016 Hanley Wood, LLC can be downloaded free at www.costvsvalue.com. This report can help you make a decision if you should or should not remodel.
What Remodeling Projects recoup the highest return when selling?
Projects in the Pacific region that recouped over 100% of the remodeling costs include attic insulation, entry door replacement, and minor kitchen remodel. Projects that recouped less than the remodeling costs include deck addition, back-up generator and bathroom addition.
Another great report is the Remodeling and Impact Report. This report examines resale value and customer satisfaction of interior and exterior projects. The highest recovered costs were refinished hardwood floors, new wood floors, insulation upgrade, and basement conversion.
For exterior projects, the highest percentage of costs recovered are new roofing, garage door, vinyl siding, and vinyl windows.
Highest Return on Outdoor Features
The 2016 Remodeling Impact Report, Outdoor Features. This report estimated analyzes ten common outdoor remodeling projects. The outdoor projects offer some of the highest returns when selling your home.
A standard lawn care program ranked as the number one project that appeals to buyers. Lawn care would recover 303% of the cost estimated by landscape professionals. An overall landscape upgrade, new patio, new deck, all rendered roughly 100% in cost recovery.
Value remodeling versus costs recouped when selling home
Just because a report indicates the recouped costs on home remodeling project is high, does not mean you will recoup all the remodeling costs. Remember selling a home depends on project design, quality of materials, location, age and condition of the home.
If you are looking to buy or sell a home, call Karin Zeigler. I will listen to your needs and desires and respond with honesty and integrity as well as provide my insights about the home buying and selling environment.
Contact me today:
Karin Zeigler, Real Estate Broker, RE/MAX Professionals