Cost vs. value of updating your home

| Wednesday, December 29th, 2010 | 1 Comment »

Welcome to my last blog post of 2010! I thought I’d make it memorable by blogging from my new iPad! Yes, Santa was good to me this year and although I had several back and forth moments of should I or shouldn’t I get the iPad, Santa made the decision for me and I must say I’m more than glad. Its slick, slim and a bigger version of what I already love more than life itself: my iPhone. How can I go wrong?

Anyway, a lot of clients who want to list their home ask me what they should do to it before they sell. Besides the obvious (clean and de-clutter!) there is always the question of should you remodel or update? I came across an interesting article about the cost vs. the value of remodeling/updating certain areas of your home. It was broken down into 2 categories: a midrange home and an upscale home. It was also divided into different areas across the country but all I really focused on was what they came up with for the Pacific region (Alaska, California, Hawaii, Oregon and Washington). They then broke it into job cost, resale value and cost recouped. Here are some of the highlights:

The improvements made to a midrange home that saw the lowest level of cost recouped was the addition of a back up-generator (52.1%) and a sun room (53.3%). The improvements made to an upscale home that saw the lowest level of cost recouped was the addition of a master suite (56.8%) and a bathroom (59.8%).

The improvements made to a midrange home that saw the highest level of cost recouped was the replacement of an entry door (112.1%) and the replacement of garage doors (96.4%). The improvements made to an upscale home that saw the highest level of cost recouped was new siding (85.6%) and vinyl windows (80.5%).

Interesting isn’t it? The good news is that a simple front door goes a long way! The bad news is that if you specifically bought a generator or added a sun room before you listed your house, looks like you’re out of luck (and money!) I hope you found this information helpful. If you are interested in this article let me know and I’ll share my fancy real estate magazine with you! If you are thinking of selling your house and have questions about remodeling or updating, I would be happy to share my experiences with you. I surprise a lot of sellers when I tell them they aren’t always going to get out what they put into the home.

One last note, as I was blogging happily along there was a knock on my door and when I went to answer it I noticed a bag of yellow pages on my door. Honestly, do people still use those? Obviously not those of us with iPads or iPhones because of course there’s an app for that!

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One Comment

  1. Sheila says:

    Very interesting post. Seriously, garage doors and entry doors — really?

    What if a seller DOESN’T declutter but DOES add BOTH a new garage door and entry door. Any data on that?

    Wow — you were good this year — an iPad?! I must have been naughty because I got two cookbooks.

    Happy New Year, Cara!

    p.s. ditto on the Yellow Pages.

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