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What Does It Cost?
Best Home Improvement Investments. Check Out 10 Projects That Recoup More Construction Costs.
Whether it's time to sell the house, or you want to make some improvements you can enjoy, it's important to know which projects will be the best investments. You might want to put a hot tub in the bathroom or create an outdoor room, but will you recoup those costs when you sell the house? Where's the best place to invest your hard earned money?
For the past 20 years, the National Association of Realtors and Remodeling magazine have produced
Whether it's time to sell the house, or you want to make some improvements you can enjoy, it's important to know which projects will be the best investments. You might want to put a hot tub in the bathroom or create an outdoor room, but will you recoup those costs when you sell the house? Where's the best place to invest your hard earned money?
For the past 20 years, the National Association of Realtors and Remodeling magazine have produced
The Cost vs. Value Report, a detailed analysis of 30 key home-improvement projects. The report shows how much the projects cost and what they typically recoup in value when a home is sold. The figures are adjusted by region, as well as shown national average.
The 2008-2009 Cost vs. Value Report indicates that while home price has fallen by a national average of 7%, the value of homeowners' remodeling investments has declined less than 4%. As the housing market has slowed, fewer upscale projects are being done. Instead, the focus is on curb-appeal projects. In comparing the national averages, replacement projects that boost curb appeal - siding, windows and decks - give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.
The 2008-2009 Cost vs. Value Report indicates that while home price has fallen by a national average of 7%, the value of homeowners' remodeling investments has declined less than 4%. As the housing market has slowed, fewer upscale projects are being done. Instead, the focus is on curb-appeal projects. In comparing the national averages, replacement projects that boost curb appeal - siding, windows and decks - give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.
The Cost vs. Value Report assumes the homeowner is paying the full price for labor. If you can do any part of a project, you'll cut costs and get more of your money back. How much is possible to recoup depends on several factors, such as the value of the homes in your neighborhood, the nature of the project, and your timing in trying to sell the home, as well as the condition of the overall housing market.
Before investing in one of these curb-appealing projects, however, make sure the basic structural and mechanical systems of your home are in good shape. If you replace the windows but have a leaky basement, you'll have a problem selling the house and getting any of your money back.
Before investing in one of these curb-appealing projects, however, make sure the basic structural and mechanical systems of your home are in good shape. If you replace the windows but have a leaky basement, you'll have a problem selling the house and getting any of your money back.
Top 10 projects and how much they typically pay back:
1. Upscale fiber cement siding 86.7%
2. Midrange wood deck 81.8%
3. Midrange vinyl siding 80.7%
4. Upscale foam-backed vinyl 80.4%
5. Midrange minor kitchen remodel 79.5%
6. Upscale vinyl window replacement 79.2%
7. Midrange wood window replacement 77.7%
8. Midrange vinyl window replacement 77.2%
9. Upscale wood window replacement 76.5%
10. Midrange major kitchen remodel 76%
Courtesy of Family Features
1. Upscale fiber cement siding 86.7%
2. Midrange wood deck 81.8%
3. Midrange vinyl siding 80.7%
4. Upscale foam-backed vinyl 80.4%
5. Midrange minor kitchen remodel 79.5%
6. Upscale vinyl window replacement 79.2%
7. Midrange wood window replacement 77.7%
8. Midrange vinyl window replacement 77.2%
9. Upscale wood window replacement 76.5%
10. Midrange major kitchen remodel 76%
Courtesy of Family Features
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