Cost vs. Value

Thinking about doing some remodeling to your home? Make sure you’re investing your time and money in the right areas. According to Remodeling magazine’s annual “Cost vs. Value Report”, exterior and replacement projects bring in the biggest return. For instance, adding a wooden deck not only adds aesthetic value to the exterior of your home, it also has one of the highest percentages of costs recouped at 85%. Other projects that consistantly rank high include replacing the siding and windows of your home.

The kitchen is the best room to invest your money in with in the home. Replacing dated appliances with energy efficient or high-end stainless steel appliances is one of the best investments. Outfitting your kitchen with new countertops is another smart option. If you are looking at remodeling on a smaller scale, a fresh coat of paint, new hardware and refinishing cabinetry can do the trick. Other rooms to invest your remodeling dollars in include master suites and garages. The worst places to invest your money in are home offices and sunrooms. Not everyone has a need for an office or sunroom. It’s better to leave it the way it is with maybe a few minor adjustments.

If you are thinking about remodeling your home, the best course of action would be to start with a consultation by a local remodeler or contractor. They will be able to give you estimates on the cost of construction and a time frame. Also, pay attention to current market conditions and comps for your area. For this you may need the assistance of your favorite local realtor.