Spring is around the corner and that is also a time many begin to think about remodeling or making updates to their homes. Some choices are a “must do” while others may be “want to do” to enhance your lifestyle or to enhance the value of your house.
The 2013 Cost vs Value Report has been released with the best return and the least return in value. This is important to keep in mind if you are making improvements to your house to increase the value to sell your house and receive a better return.
Some homeowners feel they should receive a dollar for dollar return; however this is not an accurate assumption.
A steel entry door replacement has the highest return for a midrange project with 83.8% of its cost being recouped. According to the report, the upscale project with the highest percent recouped is new siding, followed closely by replacing the garage door.
Which project has the lowest return? A sunroom addition will only provide a 50.9% return, but still higher than the 2013 national average of 46.5%. And with only 57.6% of its cost recouped, a master suite addition has the lowest return for a large-scale project.
Find out where other projects fall in our region and on a national level by downloading the Remodeling 2012-2013 Cost vs. Value Reportfor free.