The National Association of Realtors recently rated what projects are most valuable to your home in their 2014 Remodeling Cost Vs. Value Report. Curb appeal is crucial to selling your home, and the report therefore rated exterior projects among the most valuable.
Here are highlights from the report:
- 8 of the top 10 most cost-effective projects were exterior projects.
- Although a small cost item, a steel entry door was rated for the highest return on investment, with almost 100% of costs expected to be recouped on resale.
- A wood deck came in second, with almost 90% expected to be recouped.
- Fiber-cement siding and vinyl siding were also both in the top 10.
- Garage door replacements were in the top 10, including two categories — a “midrange” garage door and an “upscale” garage door.
What about interior projects?
- An attic bedroom is ranked 4th, expecting to recoup about 85% of costs. The average cost for this project is just above $49,000.
- A “minor kitchen remodel” was also in the to 10, ranged at number 7. It is expected to recoup about 83% of costs. The average cost for a minor kitchen remodel is just under $19,000.
What about the project likely to return the least? The home office remodel, expecting to recoup only 49%.
Overall, the average cost-value ratio (average amount of investment recouped) nationwide was 66%, which is up 5.5% over last year.
For additional highlights, click on this page here.
If you need to sell but don’t want to put up with the hassle and significant costs of doing improvements such as these, call us at 205-390-1050. We buy houses as-is in the Birmingham Alabama area. We buy is all areas of town, in all price ranges, in all situations, and in any condition. You can submit information about your house on www.WeBuyBham.com as well.