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Most home improvement renovation projects do increase the resale value of your home. Recent studies show that the resale increase is typically less than the cost of the home improvement project. Here on some interesting figures for home improvement renovation vs. home resale value.
1) Only 84% of the cost of an upscale bathroom was recooperated at the time of sale, but 95% of a modest bathroom was re-gained.
2) 79% of the cost of an upscale kitchen was recooperated, while only 75% of a modest kitchen was recooperated.
3) 79% of a basement remodel was re-gained if it included an entertainment area, full bath and one additional bedroom.
4) Approximately 77% of a master bedroom suite was recooperated, whether upscale or modest.
5) Add a deck and get 104% return on your cost.
While you may not get back all of your home improvement value investment, home renovations can make your home sell more quickly. No one falls in love with a dimly lit, harvest yellow appliance kitchen but, new shiny appliances and great lighting could mean an offer that day! If you cant afford home improvement value renovations, paint and refresh as many rooms as you can in your home before resale. The home improvement resale value figures above say it all - small touches can make a huge difference.
These websites offer advice for new home owners or buyers
www.eloan.com
www.ginniemae.gov
www.quickenloans.com
The information contained on this page is intended to enlighten newlyweds by offering a basic understanding of home buying principles. Forever & Always Co., Inc. assumes no liability for omissions, errors or the outcome of any home buying endeavor (or experience) on the part of the reader. The reader should always exercise reasonable discretion, follow their own state and local guidelines and is urged to consult a licensed professional for more complete home buying guidance. The information on this page is not meant to be used in place of professional advice. Forever & Always Co., Inc. is not affiliated with the above website referrals.
©2009 ForeverAndAlways.com |
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