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Every home, whether modest ormansion, eventually gives way to age. Normal wear and tear, chips, and dents take their toll as styles change and colors go out of fashion. From simple change to major remodels, quality upgrades increase the value of your property. And what’s more, a good many will pay for themselves and more - when the home is sold or refinanced. Tired of sharing a bathroom with the kids and envision a private, luxurious master suite? Buried in paper piled high on the kitchen counter and imagining a home office? There are hundreds of remodeling ideas that would customize your home to satisfy your family’s needs and tastes. Before you start knocking down walls or digging up the backyard, take time to assess your motivation. Ask yourself if your primary desire is to create space and utility or is your eye on selling? Remember, all remodels are not equal. Remodeling Magazine’s annual survey, Cost vs. Value, gives insight into which re-do’s are more likely to recoup your investment. It makes sense to put your home improvement dollars into a project that enhances both your lifestyle and your financial goals.
Resources -
Remodeling Online:
www.remodeling.hw.net
www.nari.org
2007 South Atlantic National Averages
Project Midrange Cost Resale % Recouped
Attic Bedroom Remodel $46,691 $35,771 76.60%
Back-Up Power Generator $13,357 $7,748 58%
Basement Remodel $59,435 $44,661 75.10%
Bathroom Addition $37,202 $24,553 66%
Bathroom Remodel $15,789 $12,366 78.30%
Deck Addition - Wood $10,347 $8,835 85.40%
Family Room Addition $78,989 $54,148 68.60%
Garage Addition $53,897 $37,461 69.50%
Home Office Remodel $27,193 $15,498 57%
Major Kitchen Remodel $55,503 $43,363 78.10%
Master Suite Addition $98,863 $68,172 69%
Minor Kitchen Remodel $21,185 $17,576 83%
Roofing Replacement $18,042 $12,166 67.40%
Siding Replacement $9,910 $8,245 83.20%
Sunroom Addition $69,817 $41,231 59.10%
Two-Story Addition $139,297 $103,010 73.90%
Window Replacement - Vinyl $10,448 $8,290 79.30%
Window Replacement - Wood $11,384 $9,241 81.20% |