Remodeling - The Best Bang For Your Buck

February 7, 2013
The National Association of Realtors has release the 2013 Remodeling Cost vs. Value report. Results of the report are summarized on NAR's consumer website HouseLogic.com. This website has a ggreat deal of good information, however, I found it easier to find the Cost Vs. Value information by googling Remodling Magazine.
The report is segmented into regions and then cities. I check out the Riverside area and found that the biggest bang for a homeowners
's buck is to improve the exterior of a property. Garage door replacements returned the highest percentage in terms of the cost of the replacement. Estimated cost was between a low of $1400 to a high of $2,900.If a homeowner spent the lesser amount, the estimated percentage return was 86,5%, if the higher number the return was 79.6%. Clearly it is a good idea to get rid of the old lift up, spring-loaded garage doors.
The next highest percentage return is the replacement of windows. Much of our older inventory of homes still have single pane windows. New vinyl or wood replacement windows should definitely be on a homeowner's remodeling list. (Vinyl replacement windows are listed as giving a higher percentage return than wood (approx.70%.).
The smallest return for monies spent was listed as a "home office remodel" at 32.3%. .
Updating the exterior features of a property seems to give a good boost to resale value.