Getting Ready to Sell?
Here are the top five remodeling projects done in preparation for putting a home on the market.
Housing market data reveals that small, smart remodels reward home owners with better return on investment and can help update a home for a better sale. Review these top five remodeling projects and begin planning during National Home Remodeling Month.
- Add a deck.
Building on a wood deck returns 82 % of the expense, according to Remodeling magazine’s Cost vs. Value study. Decks built from composite material also offer a hefty return. Home owners and prospective buyers are attracted to outdoor living space where they can relax and entertain near the comfort of indoor conveniences.
- Replace vinyl siding.
Improving curb appeal with small enhancements can increase the likelihood of a home sale. Refreshing the exterior with new siding updates the look of the home and is a necessary home maintenance task. Vinyl siding replacement returns a national average of 81 % of the investment.
- Replace windows.
Updating windows can also return a solid portion of the investment (78 % for wood frames and 77 % for vinyl). New, energy-efficient windows also helps reduce energy leakage from the home and can bring down heating and cooling bills. A recently expanded federal tax credit can help defray the cost for purchasing and installing qualifying windows. Visit www.nahb.org/efficiencytaxcredit for more details.
- Remodel the kitchen.
A minor kitchen remodel can improve the look without costing a bundle, and yields an 80 % return. Consider replacing cabinetry fronts, countertops, and flooring. Installing low-flow faucets and energy-efficient appliances can also reduce water and energy expenses.
- Remodel the bathroom.
Payback on remodeling a bathroom can reach 75 % with new fixtures, tile, toilet, vanity and lighting. Low flow toilets consume less water and can decrease the monthly water bill.
Smart remodeling projects for improving the home can attract buyers and make the home more comfortable.