Home improvement project

decoration remodelingYou may wonder how many of your expenses will recover when you sell your home. In the past 20 years, in an effort to help homeowners answer that question, the magazine “Remodel” has produced a report “annual cost vs. value. ”

The 2007 report has been shown, and among the most important points include:

  • The focus on exterior improvements as the project of “best value”
  • home enhancements highest were: replacement of the sides on a large scale using fiber cement materials, adding a wooden deck and replacement of vinyl side of mid-range
  • the best domestic project within a national scale is a minor kitchen remodeling;
  • to Houston, Texas and the Central Southwest region of the average costs recovered are 6% higher than average national projects and projects differed slightly better value.

The National Association of Realtors and Specpan information collected nearly 3,000 responses to a survey based on the Web. The report this year found that, due to the severe drop in housing market prices, the percentage of construction costs recovered is lower compared to 2006. The likely culprits of this decline are slow domestic cups appreciation (due to falling real estate market in most parts of the country) and the increase in remodeling costs.

However, remodeling is still a pretty good investment. Over 60% of the projects undertaken in 2007 are projected to a refund of 65% and 80% in the resale of the house. This means that the real cost is just 20 cents for every 35 cents to use for home improvements.

Nationally, projects are at the end of the scale of value include a central office remodeling, adding a mid-range utility, installing a standby generator and garage additions.

Depending on the position
As you might expect, the amount recovered in a sale you disagree depending on their geographic position. While the percentage of costs returned in Atlantic cities such as New England remains relatively constant year after year in California, Oregon, and Washington recovered from remodeling costs at resale is over 10% higher than the national average .

It is also interesting that in cities of the southeast and southwest where the builder is booming fall below the national average in regard to recovering costs for home improvements. One explanation for this trend is the fact that these areas have a lot of new homes introduced in the market and falling in price, buyers are ignoring even the most attractive old houses restored.

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