Attention sellers: the 2009 Remodeling Cost versus Value Report indicates that 8 of the top 10 remodeling projects that provided greatest value were exterior projects costing less than $14,000. The importance of curb appeal must not be minimized if you are selling. You may find that doing an exterior project may help attract a buyer sooner than if you hadn’t done it.
With so much competition out there, do what you can to make your property stand out. And, you stand to recoup a good portion of your costs! Don’t look at the portion that you don’t recoup as a total loss. Compare it to your carrying costs for holding the property for a longer period of time.
Some projects with good returns were:
Wood deck addition - 80% of cost recouped at sale
Window replacement, wood or vinyl – 76.6% - 77.3%
Steel entry door replacement - 128.9%
Top interior projects were:
Attic bedroom addition - 83.1%
Minor kitchen remodel - 78.3%
Major kitchen remodel – 72%
Bathroom remodel: 71%
Basement remodel: 75.4%
To see how 33 projects fared in the report, click here.
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Renting with an Option to Buy
15 years ago
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