Have you ever wondered if it would be better to remodel your home office, give your bathroom a face-lift or add-on that extra room you've been contemplating? Every year there is a great report published about the cost of many home updates and remodeling projects versus the value those changes will return. The "Cost vs. Value" report by Remodeling Magazine is produced each year by compiling data from industry experts (I've participated, for example). Check out the 2007 version here:
http://costvalue.remodelingmagazine.com/index.html
It doesn't get into all of the details, nor every possibly home improvement project, but a good agent can help where this article leaves off. For example, spending money in the "wet areas" (i.e. kitchens and bathrooms) is generally considered one of the best uses of your remodeling dollars if you're looking for ROI (that's "return on investment" for the non-business types). Carpet and paint don't add much value, but they are critical in helping homes sell (and some of the most affordable updates you can make). Wood flooring can return value, but typically only if it is real hardwood. Laminate wood flooring, like Pergo, is similar to carpet. It can help a home sell, but it doesn't tend to return much value (though it generally holds up better than carpet). Of course, we don't just improve our homes for the ROI. Pools are a great example of a home improvement that have a poor ROI. Many homeowners are not aware, but a pool will generally only return around 50% of its cost. However, you and your family get to enjoy it... and that's a large part of a pool's value. For more tips, or if you have questions about a potential home improvement, feel free to post a comment or contact me directly.
Ryan Cave, The "Caveman"
Truth, Honor & Personal Integrity
214-789-9366
www.CaveRealty.com |