Are you considering remodeling your home, and wondering what it will do to your property value? My philosophy is if you're planning to stay in your home for a long time -- go for it! Make a change that works for your family, and don't be so concerned with how it will affect resale.
But if you're thinking of selling in the next few years, you should consider its cost effectiveness. A recent article from National Association of Realtors highlights the importance exterior projects, which provide the most value but also are some of the least expensive improvements. For example, replacing your steel entry door or garage doors.
In terms of the interior, you recoup the most of your cost with an attic bedroom addition (71.4% cost recouped) or major kitchen remodel (60.3%).
Click here to check on the cost effectiveness of other projects: http://www.realtor.org/rmohome_and_design/costvsvalue
Of course, it's always best to check with a real estate agent (like me!) to see if the update or remodel makes sense for your home, neighborhood and today's market.
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Follow a real estate agent in action! Being a Howard Hanna associate on Cleveland's east side is exciting...every day I'm learning new things, seeing great properties, and meeting interesting people who need my help. Find out how my 20 years of marketing helps me get houses SOLD! Hope you'll come along for the ride!
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About Me
- Mary Frances
- I am a mom, a wife, a friend, a volunteer and real estate agent.