Posted to: First Time Home Buyers

Payback for remodeling?

“Help! If I remodel my kitchen will I recoup the cost when I sell?”

The “Cost vs. Value Report” is published each year by Remodeling Magazine and gives you a city-by-city guide on what 25 common remodeling projects will pay back at resale in 60 U.S. markets.

The project with the highest resale potential in the Bay Area? Replacing wooden windows, which costs about $13,578 with a resale value of $17,384, a 128% recoup-rate. Next was a minor kitchen remodel, with 126.2% recovered. Nationally, the average percent recouped for windows is 85.3% and 85.2% for the kitchen.

The least resale potential for the Bay Area? Adding a sunroom. Just don’t even bother. Perhaps a fogroom would make more sense.

Are you thinking about a remodeling project? Be sure to consider your own needs and desires as well as those of the home’s future inhabitants. “Keeping up with the Joneses can be a savvy investment move,” said Stacey Moncrieff, editor, REALTOR Magazine. “But ultimately, the best reason for a remodel is to enjoy it.”

To view the entire report, contact me. I will be in the kitchen, remodeling.

 

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