If you want the most bang for your buck on home improvements when you resell, stick to exterior projects. Those are the upgrades that have curb appeal--the first thing a potential buyer notices when looking at your house.
Mike Kuplicki, manager of Alure home improvement and remodeling company in East Meadow, says that these kind of changes are eye catching, show pride of homeownership, and are the most economical to make. "We have a design imaging computer program that can actually show you how any home improvement project you want to make will look on your house,” says Kuplicki.
So which projects have the most curb appeal and recoup the most? The 2010-11 Remodeling Cost vs. Value Report, by Remodeling and Realtor® Magazines, compares construction costs with resale values for 35 mid-range and upscale remodeling projects comprising of additions, remodels, and replacements in 80 markets across the country.
Here’s the data
Steel Entry Door replacements remain the project that returned the most money at an estimated 102.1 per cent. Garage Doors are expected to recoup 83.9 per cent of costs. Both projects are relatively small investments (about $1,200 each.)
Upscale fiber-cement siding replacement was judged as the most cost effective siding project recovering 80 per cent of costs. Among window replacement projects, upscale vinyl windows were expected to recover the most (72.6 per cent) upon resale. And a wood deck tied with a minor kitchen remodeling for the fourth most profitable project returning an estimated 72.8 per cent of costs.
As far as interior projects, the winner was an attic bedroom and a basement remodel. Both add living space without extending the footprint of the house. An attic bedroom costs more than $51,000 and recoups an estimated 72.2 per cent upon resale; a basement costs about $64,000 and recoups about 70 per cent.
The results of the report also show that resale value is dependent on other factors: a home’s overall condition, conditions of surrounding properties, and location on the Island. For more information visit realtor.org and alure.com.