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How Will Home Improvements Affect The Value Of My Home?
You
love your home, and, when it comes time to sell it, you'll
want your potential buyer to love it too. Even small remodel
projects can make your home more attractive to potential buyers.
Here are some tips on how to quickly and easily prepare your home to attract
buyers and get the most return for your investment: Curbside appeal: The potential buyer's first impression
is often the most important one; it determines whether he
or she wants to even view the property. Painting your house
or fence, refinishing the deck or hiring a professional
landscaper can really help.
Quick Remodel: Bathrooms sell homes, so make
them shine. Install new bathroom floor covering, check and
repair damaged caulking in the tubs and showers. Remodeling
Magazine states that a bathroom remodel has an 89% return
on investment. Painting kitchen cupboards, updating wall colors,
and replacing knobs on kitchen cabinets are just a few simple
cosmetic projects to prepare your home for resale.
Energy improvements: Energy-saving projects, such
as energy efficient windows, insulation, updated water heaters
and heat pumps help you save money now, and increase the appeal
to future homebuyers.
Below is a list of common home improvement projects and the average cost
recouped when selling your home.
| Project |
Job Cost |
Resale Value |
Cost Recouped |
| Basement Refinishing |
$41,753
| $25,000 |
60% |
| Bathroom Addition |
$15,743 |
$12,749 |
81% |
| Bathroom Remodel |
$10,422 |
$9,300 |
89% |
| Deck Addition |
$6,185 |
$4,000 |
65% |
| Exterior Paint |
$8,768 |
$5,900 |
67% |
| Family Room Addition |
$49,361 |
$37,857 |
77% |
| Home Office |
$11,258 |
$4,786 |
43% |
| Major Kitchen Remodel |
$40,549 |
$34,000 |
84% |
| Minor Kitchen Remodel |
$15,037 |
$14,429 |
96% |
| Re-roofing |
$12,015 |
$5,600 |
47% |
| Siding Replacement |
$7,113 |
$3,917 |
55% |
| Window Replacement |
$9,459 |
$3,917 |
41% |
Numbers shown are from
Remodeling Magazine's 2001 Cost vs. Value report for the Portland, Oregon
area.
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