Renovating your basement, attic or garage into an additional room? That man cave or spare bedroom may fit your lifestyle, but buyers may lament the lack of storage space and place to park their car.
External additions can be problematic if your bigger and better house is out of character with the surrounding neighborhood in size and style.
Seven of the top 10 most cost-effective projects — nationally, in terms of value recouped — are exterior replacement projects.
• Vinyl siding projects were expected to return more than 69 percent of costs.
• Steel entry door replacement was the least expensive project in the report, costing little more than $1,200 on average, and was expected to recoup 73 percent of costs.
• Garage door replacements have seen prices fall more than 15 percent nationally and can be expected to return more than 71 percent of the cost.
• A "midrange attic bedroom" is expected to return 72.5 percent of costs upon resale, in part because it is "the least expensive way to add a bedroom and bathroom within a home's existing footprint."
• A minor kitchen remodel (budgeted at roughly $20,000) is expected to recoup 72.1 percent of costs.
• A wood deck addition is expected to make back 70.1 percent of its price tag.
• Among the least cost-returning projects are a sunroom addition and home office remodeling, both estimated to recoup less than 46 percent of what they cost.
National Association of Home Builders ranked fireplaces as No. 1 on a list of what NAR called "Home Fads That Are Falling Out of Style."
Also sliding from favor are carpeted floors and vinyl and ceramic flooring (hardwood has become more desirable) and "upscale kitchen finishes" as granite countertops gradually give way to low-maintenance, more durable laminate countertops.
Read full article here
External additions can be problematic if your bigger and better house is out of character with the surrounding neighborhood in size and style.
Seven of the top 10 most cost-effective projects — nationally, in terms of value recouped — are exterior replacement projects.
• Vinyl siding projects were expected to return more than 69 percent of costs.
• Steel entry door replacement was the least expensive project in the report, costing little more than $1,200 on average, and was expected to recoup 73 percent of costs.
• Garage door replacements have seen prices fall more than 15 percent nationally and can be expected to return more than 71 percent of the cost.
• A "midrange attic bedroom" is expected to return 72.5 percent of costs upon resale, in part because it is "the least expensive way to add a bedroom and bathroom within a home's existing footprint."
• A minor kitchen remodel (budgeted at roughly $20,000) is expected to recoup 72.1 percent of costs.
• A wood deck addition is expected to make back 70.1 percent of its price tag.
• Among the least cost-returning projects are a sunroom addition and home office remodeling, both estimated to recoup less than 46 percent of what they cost.
National Association of Home Builders ranked fireplaces as No. 1 on a list of what NAR called "Home Fads That Are Falling Out of Style."
Also sliding from favor are carpeted floors and vinyl and ceramic flooring (hardwood has become more desirable) and "upscale kitchen finishes" as granite countertops gradually give way to low-maintenance, more durable laminate countertops.
Read full article here
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