The 2008 Cost Vs. Value Report-an Early Look
Each year, Remodeling Magazine, in cooperation with REALTOR ® Magazine produces the Cost vs. Value Report on the average return of value for select home improvement projects. This report is further improved with all major regional areas of the country.
2008-2009 The full report will be available in December, but here are some early observations. As presented in the past year report on road reconstruction projects lead the pack for recovery dollars are spent. In fact, those projects to promote curb appeal to give you the greatest chance for recouping money again, and compare still surrounded with good food.
From a national level, here is what you can expect, showing expected recovery:
· Upscale fiber cement siding (86. 7%)
· Midrange wood deck (81. 8%)
· Midrange vinyl siding (80. 7%)
· Upscale foam supported vinyl siding 80. 4% ()
Converted · Midscale small kitchen (79. 5%)
Upscale · vinyl window (79. 2%) replaced
· Midrange wood window (77. 7%) replaced
· Midrange vinyl window (77. 2%) replaced
· Upscale wooden box (76. 5%) replaced
Converted · midrange large kitchen (76. 0%)
Owners often wonder where their money pays the most secure in an acidic financial market and how it has always been the investment in your home forever! These figures reflect a recovery in sales a year after the transformation, and are only averages. If you have most of your work, the rest will be even stronger.
Many regions, especially on the West Coast often recovery of more than 100%, while on the other Midwestern cities like Cleveland, Chicago and Milwaukee, some of the lowest recycling figures.
Is it useful to carry out a major redesign just before a house sale? Depends. If the cost is less than 100%, not really. If your work will actually produce a gain or a sale at a reasonable price made more difficult by the absence of the project, then it can be to your advantage to continue. Their direction is always best to consult a real estate agent to help carry the path.
Jerry Hart
Jerry helps buyers and sellers in the Denver real estate market.