Thursday, January 22, 2009

Home Improvement / Remodeling Cost vs. Real Appraisal Value

Thinking about remodeling your home? Certain home improvements yield a stronger "return on investment" than others...Remodeling Magazine has compiled "Cost vs. Value" statistics regarding which home improvements add more value to your home. You will want to make sure you click on the corresponding region, as the information is different for Sacramento (the Pacific region on the survey, then choose Sacramento) than it will be for other areas. For many types of home improvements, it is unlikely a homeowner will recoup the cost associated with installing the upgrade.

While many renovations improve the look and value of a home, some will not increase the home’s value at all (for example, installing crown moulding - this can run several dollars per linear foot, but will not increase the value of the home)...AND other renovations can actually make it more difficult for a homeowner to resell the home. Some renovations (for example, a built-in swimming pool) may discourage a buyer who views it as requiring too much upkeep that it is too much of a hazard to their small children.

Obviously a homeowner's enjoyment of the upgrades is important, but you will never get dollar-for-dollar increase in your home's value. Anyway, if you are wondering how certain home renovations may affect the resale value of your home, check out the "Cost vs. Value" survey.

5 comments:

Anonymous said...

Most homeowners, when remodeling or even building new, want to go way beyond typical neighborhood finishes, which translates into costs way beyond typical neighborhood costs, etc. "But the marble was only $3 per foot more than ceramic tile" True but we also added at least another day's labor in the shower for the precision installation.

The benefit of those upgrades are not always measured. The quicker sale of the nicer home is not always quantified in the stats. And I love walking on limestone in my bare feet everyday.

Of course, I upgrade my coffee to a mocha also, just for my pleasure.

Isn't that why we work?

A builder.

madina said...

Hi,
Thanks for writing such an interesting article. It’s really good to know about the real estate and home decoration and renovation in detail. It seems that home remodeling has become one of America's favorite pastimes. While the housing market may be experiencing a temporary downturn, Sacramento remodeling projects continue to hold steady simply because many Sacramento home owners have decided to stay put in their current homes, opting to upgrade rather than move.
With the country's aging housing stock, many home are facing some necessary Sacramento remodeling jobs. But older home or new, Sacramento homeowners are adding, expanding, reconfiguring, and remodeling their homes more than ever. More than 25 million homeowners in the U.S. are involved in some sort of remodeling project every year and Sacramento remodeling is keeping up with the pace. Major remodeling projects now make up a large part of the money invested by homeowners. These include complete home remodeling, additions and kitchen upgrades.

Thanks,
- Madlina Francis

Home Repair NJ said...

Some excellent ideas here I don’t have a news blog as such but there are some great tips to home improvements that I seeking there.

Katherine said...

Really nice and informative blog, keep it up buddy…Thanks for sharing.

Garage Door Repair Pros said...

I have installed new inexpensive garage doors that made a dramatic difference in the appearance of the home. The cost was well worth the investment as it was easily amortized into the sale of the home. If the first part of the house you see is the garage door the effect is even more valuable. Also garage door repair can be a good alternative to total replacement.