So what is the best thing to remodel in your home??? If you are planning on staying in your home then you should remodel based on individual need. If you are remodeling with the intent to sell and trying to see which project will recoup the greatest value financially, below are a few good idea.
The National Association of Realtors did a study for 2009 in 80 markets across the country showing remodeling cost vs. value report. Interestingly 8 of the top 10 projects done in terms of costs recouped exterior replacements that cost less that $14,000. What this tells me is that curb appeal is very important.
The National Association of Realtors reports, “ On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.”
From my personal experience I would say remodeling kitchens and master bedrooms/bathrooms would be a great idea in terms of what people are looking for in a home. If you are looking for cheaper ideas to make a home more presentable I would suggest painting, replacing flooring/carpet, and keeping things looking clean and tidy. First impressions go a long way.
Below is a link to the NAR article which is very interested and insightful. http://www.realtor.org/press_room/news_releases/2009/12/exterior_proves
Avg. Sales Price: 379,000
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