Since anything that improves home
listings can result in better offers, the answer can never be proven
absolutely. But Remodeling magazine gives it a try. After delving into
the year’s home sales numbers, their “Remodeling 2012–13 Cost vs. Value Report”
(www.costvsvalue.com) highlights some remodeling ideas that don’t return
anything like what the investment is likely to cost.
Among midrange projects, boosting the number of bathrooms might seem to warrant the expense, yet that usually isn’t the case. A Bathroom Addition returns just 54.8% of the average cost of $37, 501. On the other hand, a more minor bathroom remodel of $15,000 or so averages more than a 10% greater return for about half the outlay.
Less costly (but still a dubious
proposition) is putting in a Backup
Power Generator. Count on just 52.7% of the $11,000 investment to be
returned at sale.
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| Image Courtesy 123rf.com |
Second worst result
in terms of percentages (but far and away the most costly) was the idea of
putting in a Sunroom Addition.
An average cost of $72,179 added just $33,529 at resale. That hefty
price tag is probably too high a hurdle for many prospective buyers.
The Home Office Remodel weighed in
as this year's biggest loser. Nationally, homeowners spent an average of
$27,293, yet could expect to recoup only about 42.9%. Ouch. If you’re
considering a remodel, opt for something that can be readily converted back
into a bedroom or den, and call it a study, den or hobby room when it hits the
Savannah home listings. Buyers like functional space they can reshape to their
own family’s needs.
What are the best remodeling projects?
Siding, garage door, and window replacements tend to head the list. Please feel
free to contact us before you spend a single dollar on renovations. We’re here
to help guide you in the right direction — and toward a top return!
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