Bathrooms and kitchens are the top home improvements that will return the most money upon resale. Every year the National Association of Realtors, in conjunction with Remodeling Magazine, publishes the Cost vs. Value Report. Nationally, a minor kitchen remodel, according to the 2005 report, returned 98.5% of its cost. In the western part of the United States, that return was 112.3%. But what about installing a new roof, replacing a furnace or painting? How much do those types of repairs add to the bottom line at your real estate closing? Should you put in new carpeting? How much will wallpaper distract from a sale? If you'd like to make money on your home improvement efforts, you need to consider the time of year, competing inventory similar to your house, the temperature of the marketplace and the location of your property, among other important factors.
© Elizabeth Weintraub
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
Comments
If I were to buy a house I would make sure that the property I choose would be free from repairs. That is why making sure that repairs are done is important when selling a house. The fewer repairs left the better the asking price, if not the buyer might want a lower price.