Thursday, January 15, 2009

. . .and another thing about your homes value

If you're contemplating placing your home on the market this year, and think that remodeling projects will increase it's value, please study carefully the table.

A scant two to three years ago, it was well worth the expense at completing rehab projects, but as house values have shrunk, so have the returns on remodeling jobs when it comes time to sell. This table outlines which projects bring the best return.

Project

Percent of Cost Recouped

Percentage Drop Since 2005

Replace Siding

80.7%

-15%

Minor Kitchen Remodel

79.5%

-19%

Window Replacement

77.7%

-12%

Major Kitchen Remodel

76.0%

-9%

Bathroom Remodel

74.6%

-28%

Deck Addition

73.7%

-17%

No comments: