Columbus Area’s Most Valuable Home Renovations
Everyone knows that kitchens and baths sell homes. But do you know the 5 renovations that provide the highest return on investment according to the Remodeling 2013 Cost vs. Value Report (www.costvsvalue.com)?
Here they are:
Entry Door Replacement (steel): 73.7%
Minor Kitchen Remodel: 69.8%
Siding Replacement (vinyl): 68%
Window Replacement (wood): 66.1%
Two-Story Addition: 64.0%
These values represent long-term investments that you will utilize as a homeowner. Resale value data for each project were aggregated from estimates provided by members of the National Association of REALTORS® (NAR) in cooperation with REALTOR® magazine.
So, should you consider a two-story addition if you are getting ready to sell your home? Absolutely, not (in a large majority cases anyway)!
I am often asked about what renovations to make before listing a house for sale. My standard answer is that it depends, but in short, you should address deferred maintenance first. Peeling paint and foggy windows will become red flags to potential buyers.
Inexpensive improvements such as painting, de-cluttering and removing personalized items go a long way towards getting your home ready to sell. The goal is to increase your potential buyer pool. Prospective buyers should be able to picture themselves living in your house and this is harder to do with bright purple paint and family photos on every wall.
This is not to say there is anything wrong with color or pictures; however, having been through my fair share of houses, I can tell you focus shifts from your home to your tastes quickly. Ultimately, this is what you want to avoid.
Have you considered selling, but are unsure of your homes value? I offer a free, no-obligation opinion of value. Fill out the form on the right side of this page or call 614-439-6180.
The Remodeling 2013 Cost vs. Value Report is © 2013 Hanley Wood, LLC. Complete data from the Remodeling 2013 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.”