Renovation: Is it Worth the Cost?
A stressful part of putting your home on the market is determining what to fix and upgrade to get the very best price. Rely on your real estate agent to recommend which projects to consider and which to avoid. Putting money into renovation doesn’t always mean you will recoup the money in a sale.
You may want to consult Remodeling’s website for their most recent Cost vs. Value Report for a breakdown of typical returns on renovation projects large and small in various regions throughout the country.
The report highlights the following projects as those with modest gains in their cost-value ratio:
- Midrange roofing replacement
- Midrange garage door replacement
- Steel or fiberglass entry door replacement
- Vinyl siding replacement
While your needs and budget will have a big impact on your choice of home-improvement projects, it helps to know the cost vs. return ratio when making the final decisions.
It is my hope that the above information will be of use to you when selling your home. Please consult with licensed contractors in your area for further advice and suggestions. The website listed above should only be used as a guide. Please consult with ME when buying or selling your next home!