Dear TZ,
I'm going to be selling my house in about a year and I have some cash to spend to get it ready to sell. Which home improvements get me the best improvement in selling price?
Fix It Up Freddy
Dear Freddy,
Lots of Union County residents are thinking about getting their homes ready to sell. The truth is, some home improvements are worth more than others.
Remodeling Magazine and the National Association of Realtors produce a collaborative report on improving a home before sale every year. This report is called the Remodeling Cost vs. Value Report and it compares construction costs with resale values.
The 2011-2011 Remodeling Cost vs. Value Report indicates that, nationally, replacing the front door of a home results in a 102 percent profit over the cost of replacing the door, on average. In other words, one can expect to recoup $102 dollar for every $100 spent on a new door, on average nationally. Similarly, replacing a garage door results in an 84 percent recovery of cost. Replacing siding results in a national average of 80 percent recovery of cost.
Adding a 16 by 20 foot deck using pressure treated joists and including a built in bench and planter with stairs and railings returns about 73 percent of cost nationally.(Source: http://realtormag.realtor.org/home-and-design/cost-vs-value/article/2011/01/2011-cost-vs-value-help-clients-stretch-their-remo)
According to the 2010-2011 Remodeling Cost vs. Value Report, remodeling a minor mid-range kitchen returns about 73 percent of its investment but a major remodeling recovers about 60 percent.(Source: http://www.inman.com/buyers-sellers/columnists/dianhymer/make-cost-effective-home-improvements)
Whatever you decide to do, remember that poorly done construction decreases a home’s value rather than increases it!
Good luck!
- TZ
~ Wayne & Jean
Union County, NJ - a great place to live and work!
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