20 Things That Can Alter the Value of Your Home
by Dana DratchThursday, August 9, 2007provided by
Here are 10 features that can add value to your home, and another 10 that could reduce the sales price.
Increase home's value
1. An updated kitchen
2. Modern bathrooms
3. A well-appointed master suite
4. Natural materials
5. Curb appeal
6. A light, airy spacious feel
7. Good windows
9. Lots of storage
Expecting to plant a "For Sale" sign in the front yard any time soon? Whether the target date for listing your home on the market is a few months or a few years away -- or whether you simply like to make decisions with an eye toward the future -- you may well be wondering how putting some money into the house now will pay off later.
Thanks to research from Remodeling magazine, homeowners can take some of the guesswork out of project decision-making. The publication's "Remodeling Cost vs. Value Report 2006," which offers national averages as well as regional and city breakdowns of 25 common home improvement projects and their effects on resale value, shows that exterior siding replacement, wood window replacement and minor kitchen and bathroom remodels are tops in the national average of job cost recouped.
Here's the lowdown on the top 10 home improvement projects by resale value from this 19th annual report, which is based on e-mail surveys returned from 2,188 members of the National Association of Realtors. In calculating costs, the report authors considered complete cost-to-construct figures (including labor, material, subtrade contractors and gross profit).
Reports for each of the 60 cities surveyed, as well as a complete printed report, are available for purchase and immediate download from Remodeling magazine
Here are the top 10:
Top 10 remodeling projects
1. Replace siding -- fiber cement.
2.Replace siding -- vinyl
3.Mid-range window replacement (wood)
4.Minor kitchen remodel
6.Upscale window replacement -- vinyl
7.Mid-range window replacement -- vinyl
9.Siding replacement -- foam-backed vinyl
10.Upscale window replacement -- wood