Valuable information for buyers and sellers.
According to Remodeling magazine's 2009-2010
"Cost vs. Value Report," even despite the
challenging economy, investing in your home still
pays off at resale -- and it doesn't have to cost a lot.
In fact, many of the home improvement projects that
got the most bang for their buck were fairly
inexpensive exterior projects.
Based on interviews with real estate professionals throughout the country, the
Remodeling report found that certain types of door and siding replacements, as
well as wood deck additions all returned more than 80 percent of project costs
upon resale. A steel entry door replacement recouped 128.9 percent of costs.
The right remodeling project, when done well, also has the potential to make for
a quicker sale and reduce negotiations with buyers over perceived shortcomings.
However, there are other projects that don't fare as well. According to the report,
the least profitable remodeling projects were home office remodels (48.1 percent)
and sunroom additions (50.7 percent).
Click here to access the "Cost vs. Value" Web site, where you can download
data for 80 cities.