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Friday, January 30, 2009

Remodeling Info from Weichert, Insights

Here is some information that I received from my company, Weichert, Realtors, to share with you, my readers:

According to Remodeling magazine's 2008-2009 "Cost vs.
Value Report," even despite the challenging economy,
investing in your home still pays off at resale. Based on
interviews with real estate professionals throughout the
country, the Remodeling report found that homeowners
could expect to recoup an average of 67.3 percent of their
investment in 30 different home improvement projects.

Exterior projects that boost curb appeal and kitchen remodels generally get the
biggest bang for the homeowner's buck. 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.

Some of the projects that are paying off the most nationally this year at resale
include the following. The number in parentheses represents the percentage of
the project's cost that is recovered.

• Upscale fiber cement siding (86.7 percent)
• Midrange wood deck (81.8 percent)
• Midrange vinyl siding (80.7 percent)
• Midrange minor kitchen remodel (79.5 percent)
• Upscale vinyl window replacement (79.2 percent)
• Midrange major kitchen remodel (76 percent)

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