If you are going to spend money to improve the look, functionality or efficiency of your home, it is only natural to want your hard earned money to work hard for you and add value/retain value when you decide to sell your house.
So which home improvements retain their value at resale the best? Here are the top 6 mid-range projects in the midwest region according to Remodeling Magazine’s annual cost vs. value report for 2011-2012:
1. Steel entry door.
Estimated cost: $1238. Estimated cost recoup at sale of home: 68.7%
2. Minor kitchen remodel
Estimated cost: $20,000. Estimated cost recoup at sale of home: 65.7%
3. Garage door replacement
Estimated cost: $1,562. Estimated cost recoup at sale of home: 65.2%
4. Replacing vinyl siding
Estimated cost: $12,500. Estimated cost recoup at sale of home: 64%
5. Adding attic bedroom with shower
Estimated cost: $53,000. Estimated cost recoup at sale of home: 62.9%
6. Window replacement (wood)
Estimated cost: $12,800. Estimated cost recoup at sale of home: 62.7%
Improving your home is sometimes a pleasure (think remodeled kitchen or new deck) and sometimes a not-so-exciting necessity (new siding or a new roof). Either way, you have improved your home and a home is an investment that needs to be protected. Some of the un-glamorous fixes may also be some of the most important for the health of your home. If you are considering home improvement such as these and need assistance with locating a reputable vendor, you may want to check out First Weber’s Concierge Desk, a free service to help you locate home related service providers. Check out their vendor lists at the First Weber Concierge Desk.
Thanks for reading the First Weber Wisconsin real estate & Wisconsin living blog about remodels that retain resale value. Happy remodeling. To read the whole report and see what they say about some other home improvement projects you may be considering, here’s the link to the midwest area http://www.remodeling.hw.net/2011/costvsvalue/division/east-north-central.aspx
photo credit http://www.flickr.com/photos/ntmprojects/4656833655/