Home remodeling brings return on investment

//Home remodeling brings return on investment

Home remodeling brings return on investment

Everyone wonders, “Is it worth the money to remodel my home?” Overall, the answer is, “Probably.” But you should not expect to fully recover the amount of your investment.

In 2010, the National Association of Realtors said you can expect between 65 percent and 75 percent back on the investment dollar. During the real estate boom, you could get 80 percent to 90 percent back when selling. As property values grow, percentages will rise.

1. Home maintenance and repair projects: Do these first. If needed, replace or upgrade roofing, exterior paint, some windows, the furnace, and electrical amperage capacity (200 amp is best). An independent home inspector will be looking objectively at your home’s condition if you decide to sell.

2. Curb appeal projects: They are typically lower cost and create emotional appeal and a high ROI. The positive impact of a freshly edged, lush green lawn is significant. A pop of colorful annuals and ground-cover around trees draws attention from the road. A freshly painted front door is inviting, and shiny clean windows are a must.

3. Neighborhood norm projects: It’s remodeling that brings your home up to the level of others in the area with features buyers expect your home to have. If your neighborhood is mostly three bedroom homes with a full bath and three-quarter bath with a shower, and you have a three bedroom with a half bath, finding a way to add a shower will more than pay for itself.

4. Kitchen counter upgrades can be had for less by installing attractive counters that have man-made materials rather than granite. Some are made by blending acrylic polymers and stone-derived materials.

By | 2012-06-25T13:19:46+00:00 June 25th, 2012|Wilmington NC|0 Comments

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