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Laure & Steve
Sr. Vice President/Broker

    GRI: Graduate REALTORĀ® Institute
    27 Years Experience

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Posts Tagged ‘Investment’

Home Improvements Give You The Best Return On Your Investment

Wednesday, July 1st, 2009

If you are planning on doing some home improvements you may want to know which ones will give you the best return on your investment when you sell your home. Here are the top ten.

-Siding replacement (fiber cement) – average costs are $13,500 and the return on investment is 88.1%.
-Siding replacement (vinyl) – average costs are $10,000 and the return on investment is 83.2%.
-Siding replacement (foam backed vinyl) – average costs are $12,500 and the return on investment is $79.7%.
-Deck addition (wood) – average costs are $10,500 and the return on investment is 85.4%.
-Deck addition (composite) average costs are $15,500 and the return on investment is 77.6%.
-Minor kitchen remodel – average costs are $21,000 and the return on investment is 83%.
-Major kitchen remodel – average costs are $55,500 and the return on investment is 77.6%.
-Windows (vinyl) – average costs are $10,500 and the return on investment is 79.3%.
-Windows (wood) – average costs are $11,500 and the return on investment is 79.3%.
-Bathroom remodel – average costs are $ 16,000 and the return on investment is 78.3%.

    Any remodeling you decide to do should mainly be for you and your family’s enjoyment and benefit. Remodeling that is done by a professional contractor has a greater chance of increasing your return on investment. Remodeling that looks as if you did it yourself can have a negative affect on your return on investment. So be sure that any work you do yourself is up to professional standards.

    One other caution: you do not want to over improve your home. You want to keep your home in the same price range as the rest of your neighborhood.

    Market Recap

    • Avg. Sales Price: $193,580

    • Avg. Days on Market: 74

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