Home Remodeling-What Pays Off
I like to keep up to date on real estate trends, especially in this ever changing and evolving market place. Being a Certified Residential Specialist (CRS) allows me the advantage to unitize their vast data resources. In the March/April issue of the Residential Specialist one topic of interest is the value of specific home improvements.
"According to Remodeling magazine's 20th annual Cost vs. Value report, the top five midrange home improvements that bring the greatest returns are: a wood deck addition (85.4 percent); siding replacement (83.2 percent); minor kitchen remodel (83 percent) wood window replacement (81.2 percent); and vinyl window replacement (79.3 percent). For more information, go to www.costvalue.com.
The home improvements with the lowest returns are: home office remodels (57 percent); installation of backup power generator (59 percent); and midrange sun-room addition (59.1 percent).
Remodeling is still a good idea. It appears the most bang for the buck in improving your real estate in Taos is to remodel the outside of the house and leave the interior design for the buyer. Remember buyers are particular about what they want in a kitchen or bathroom or specific floor plans. So if you are thinking about changing the interior of your home think twice. Better make the outside, curb appeal, look great and maintained and let the buyer come up with their own creativity on how to change the interior.
Remember the first impression is what counts. Make the outside of your home look great and buyers will want to see the inside even more. A clean and neat and well maintained inside will go a long way in impressing potential buyers.
Well so much for cost and value of home improvements. If you have questions on this subject please email me at chaz@taoshomeand.com.
Appreciate your views,
Chaz Rothenberg