Are you thinking of doing some updates on your home in Wake Forest NC? Ever wonder what you'll recoup on a kitchen remodel? A basement remodel?
The latest Cost vs. Value Report 2009-2010 is now available and there are some surprising numbers on the list. Among the top items that will get you the most return are:
- Attic Bedroom - 90% cost recouped
- Back-up Generator - 59.9% recouped
- Basement Remodel - 84.4% recouped
- Roof Replacement - 71.8% recouped
Most other improvements made to homes were down in Cost vs. Value compared with last year. A few to note are:
- Sunroom Addition
- Bathroom Remodel
- Deck Addition
- Kitchen Remodel
- Home Office Remodel
If you are thinking about performing a few jobs around your house to increase your resale value in Wake Forest NC you might want to take a look at the 2009-2010 Cost vs. Value Report.
If you are interested in placing your home for sale in Wake Forest NC I would be happy to review the report with you and how the improvements you may have made you your home have been impacted. Remember, a professional Realtor® will prepare a detailed Market Analysis for you which will include updates and upgrades that you have done before listing your home!
Feel free to check out my website at www.wakeforesthousechick.com for some great tools in helping you to prepare your home for sale in Wake Forest NC!
Whether you are buying or selling Real Estate in Wake Forest NC it just makes sense to use a Realtor® that knows the area! I live here, work here and play here - I call Wake Forest NC home! For more information regarding Wake Forest NC be sure to visit my websites:
- Leesa Finley - Homes for Sale in Wake Forest NC, Wake Forest NC schools, restaurants, shops, entertainment and MORE....
- Circa Properties - My company website with information for the entire Raleigh NC area including Cary, Apex, Garner, Franklinton, Youngsville, Holly Springs and MORE....
It's funny the way these things change... a few years ago everyone had to have a home theater, now that is not in vogue any more. I think with the cost of energy these days the best thing one can do is to make a home more efficient not just for the owner but for the world at large.
Leesa
Lots of sense in improvements; it makes sense now when prices are more affordable.
Leesa,
Great post. The Cost verses Value is a wonderful tool for consumers to review, ideally BEFORE they do a project to keep it in perspective. Otherwise, if they are going to be there forever, remodel to your hearts content and enjoy.
For most of us, we need to hit on a happy medium for what we spend and what we'll get back for it.
All the best, Michelle
Wow! I was surprised to see a kitchen remodel won't pay off. In TX that is your best bet to re-coup your investment. i guess Texans like to cook more than people in NC. Great information for those considering updating their homes!!
I just forwarded this post on to one of my clients who is thinking of whether to buy a home with an unfinished basement or not. The numbers here just might help him make a decision!
So timely Leesa! Thank you!
I think with the economy a remodel is a lot cheaper than it used to be. I still encourage my clients to "Face-lift" their kitchens and bathrooms. It may make the difference between getting sold and sitting for months on end.
I have not had a chance to review the report so I must say thank you for the overview.
We share similiar re-coupe costs in remodeling here in Austin, TX. Thank you for sharing the link, and your comment on my last post was hilarious, lol. (we all deserve a tax credit)
We share similiar re-coupe costs in remodeling here in Austin, TX. Thank you for sharing the link, and your comment on my last post was hilarious, lol. (we all deserve a tax credit)
Steve - Actually those weren't even mentioned in the report! By far, modifications made towards a more energy efficient home WILL be a good return on investment and I couldn't agree more!
Leesa - This is a great report for all Wake Forest NC homeowners to read before making improvements. Backup power generators would definitely be in the green for South Florida homeowners.
One of the best pieces of information. I know a lot of people that look this over every year.
Leesa, I find the outcome of this report very interesting. I would have thought the kitchen remodel would have been in the top 4 of bringing a return.
Lovely Leesa,
What would you tell a seller with a beat up mobile home in need of a lot of repairs (roof, frame, plumbing leaks) who was trying to decide between fixing up their 15 year old mobile and buying a new one? A new mobile is $40,000. At what point to you think it would be a good investment to go one direction or the other? The current listing price is $200,000 and it's the cheapest home in the area by $20,000 and getting 1-3 showings every week. The home inspection scared the buyer away.
Maya
Does anyone ever get over 100% return?
your friend in Charlottesville Virginia!
Leesa so many go ahead with a remodel project withoput giving much thought to whether it really makes sense. These are the sellers who usually wants to recoupe it all.
Tom - Improvements are always a great idea - sellers just need to be realistic in what they expect in return.
Michelle - Completely agree - if you are in your forever home and staying than live it up!
Betina - If I'm not mistaken, the kitchen remodels were down across the board. Surprising, isn't it?
Leesa-
I emailed you as well. I guess this is just out?
What I have found is that locally, when a house is over 10 years old, the number one thing a Seller can do is update the kitchen, and that this update may or may not return close to 100%, but it gets the house sold. There are always 3 rooms that matter - the kitchen, the master, and the family room. The master bath can be easily and cheaply updated - new plumbing and light fixtures as needed. Family rooms rarely require anything more than new flooring and current paint scheme. So, spending the money on the kitchen is a natural.