Forgotten Your Password?

Need to Register?

Barb Lanis

Home Improvements Cost vs. Value

Monday, October 8, 2012 - Article by: Barb Lanis - The Federal Savings Bank is a member FDIC and Equal Housing Lender - Message

Before starting construction you want to determine what you'll get back on your investment. This will depend on several things such as the value of your house as well as other homes in your neighborhood, the quality of the project, and factoring in how soon you plan to sell after making the improvements. If you don't plan on selling in the near future, then it is important to spend your money on a remodel that you can enjoy.

According to Remodeling's Cost vs. Value Report the average cost to value ratio for 2011-2012 was 71.6%. Replacement projects are performing better in resale value than remodeling projects. Some of the top projects include replacing siding, windows, and doors. These projects are high value because they are relatively low cost. Replacement project costs are typically less than $19,000. Replacements like these will increase your curb appeal, drawing the buyer in, as well as improve quality of life with low operational/maintenance costs for the buyer.

Before you think about remodeling your dream kitchen or bath make sure your existing structure is sound first. Taking care of the basic structure of your home should be your first priority. Freshen up your chipped walls with some inexpensive paint. Replace the old furnace and save money on your utility bills.

The things you cannot see in your home are still very important, especially to buyers. Among the top projects for remodeling your home is to transform the attic into a bedroom. It is more cost effective way of adding another room to your home because it is already part of the existing home. A minor kitchen remodel is still up in the ranks with a 72% return on investment. A minor kitchen remodel will cost around $20,000 and is an inexpensive alternative to tearing down your existing kitchen.

Related Searches:

Didn't find the answer you wanted? Ask one of your own.

Get an answer
Subscribe to our news feed.