In 2009, homeowners recouped an average of 63.8% of the investment in 33 different home improvement projects according to REALTOR Magazine. The cost recoup was down from previous years, but in line with the national decline of home prices.
The majority of the remodeling projects with the best return on investment are a testament to sensibility. Six of the 10 projects (siding and window replacement using a variety of materials) involve home maintenance that costs less than $14,000. Two more (adding an attic bedroom or a wood deck) reinforce the belief that increasing the amount of livable space in/around your home will attract Buyers who want more room for their money. Lastly, the six siding and window replacements in the top 10, combined with the project that had the biggest return on investment (replacing the main entry door) prove what many Realtors tell their clients – first impressions count!
The analysis of many upscale projects, such as a mid-level kitchen or bathroom upgrade, show that their is money to be recouped, but the real reason to invest in that type of project is for the use and enjoyment of the home owner. Additionally, the report shows that there is no guarantee a Seller will recoup all the money you put into a home when the property is sold.
For a full copy and more in-depth analysis, call me directly at 610.692.6976.