Home renovations seem to be a fact of life throughout the summer months. Homeowners are frequently faced with updating the kitchen, bathroom or finishing the basement, among many other things. Often it is hard to know just what projects will give the highest rate of return. The National Association of REALTORS conducted an 8 week survey between June and August of 2010 to see on average what projects produced the best rate of return for home owners. Here are a few of their findings:
Job Surveyed Job Cost Resale Value Cost Recouped
Entry Door Replacement (steel) 1,218 1,243 102.1%
Minor Kitchen Remodel 21,695 15,790 72.8%
Basement Remodel 64,519 45,186 70.0%
Bathroom Remodel 16,634 10,337 66.2%
Deck Addition 15,620 10,337 66.2%
Home Office Remodel 28,888 13,235 45.8%
To see the full list of jobs that were surveyed follow this link or for more real estate information visit ChrisSalmans.com and find me on Facebook, Twitter & Youtube.
Century 21 United Realty Inc.
Top 21 Award Winner 2010