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Home remodeling and benefits when selling your home

Home remodeling and benefits when selling your home

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Weicert Insights Weicert Insights Document Transcript

  • Valuable information for buyers and sellers. According to Remodeling magazine’s 2011-2012 “Cost vs. Value Report,” replacement projects perform better in resale value than other types of remodeling projects. In fact, seven out of the top 10 projects were siding-, window- and door- replacement projects. The good news for cost-conscious homeowners is that investing in your home in a way that pays off at resaledoesn’t have to cost a lot. The high value of most replacements can becontributed to the relatively low cost of these projects. What’s more, the majorityof replacement projects immediately improve curb appeal, making the homemore attractive to buyers.Based on interviews with real estate professionals throughout the country, theRemodeling report found that the top project is fiber-cement siding, whichtypically recoups 78 percent of costs. Fiber-cement siding has been in the No.1spot for six of the seven years since it was added to the report.Moving up two spots in the rankings is the minor kitchen remodel, now coming inat fourth place at 72 percent. Considered an “interior replacement” project, this isthe least expensive way to give an existing kitchen a complete facelift. It istypically done by adding new cabinet door and drawer fronts and hardware, newcountertops and new appliances.The right remodeling project, when done well, also has the potential to make fora quicker sale and reduce negotiations with buyers over perceived shortcomings.Click here to access the “Cost vs. Value” website, where you can download datafor all regions of the country.