Home Improvement ROI

Home Improvement

What kind of home improvement adds the greatest value to your home?  The National Association of Realtors puts out exactly such a report titled “The Value of Housing Characteristics”.  A recent report showed that:
each additional 1,000 square feet of living space increases selling price by about 3.3%
central air conditioning adds about 12% to price
internal features that add the most value are a family room, a dining room, a      whirlpool, and a security system;
fireplaces have a strong effect on selling price with each fireplace adding about 12%
a garage adds about 13% to selling price
For the full report go to http://bit.ly/yHqaQX
While the improvement may add value to your home, does it ever add more than it costs?  Unfortunately no.  You will never recoup more than you put in.  So how much do you get back?
Remodeling Magazine puts out an annual “Cost vs. Value” report.  The report shows the relationship between remodeling costs and resale value.  Here are the 2011-2012 top ten projects in the midrange & upscale projects for New England and National average:
 
Midrange Projects
Garage Door Replacement
Entry Door Replacement   (steel)
Deck Addition (wood)
Siding Replacement (vinyl)
Window Replacement (vinyl)
Minor Kitchen Remodel
Attic Bedroom
Window Replacement (wood)
Major Kitchen Remodel
Deck Addition (composite)
 
 
Upscale Projects
Garage Door Replacement
Siding Replacement   (fiber-cement)
Siding Replacement   (foam-backed vinyl)
Window Replacement (vinyl)
Window Replacement (wood)
Grand Entrance (fiberglass)
Major Kitchen Remodel
Deck Addition (composite)
Roofing Replacement
Bathroom Remodel
Interestingly, the returns fluctuate year to year so check the report yearly before you start any projects.
Here’s the link for the full report: http://bit.ly/AxsDJM