In the current economic environment, many Denver home owners are finding themselves content with staying in their current home longer than they originally planned. Homeowners who are “in for the long haul” are increasing their comfort levels by making improvements to their current homes.
Popular home improvements can include larger jobs like finishing a basement, adding a bedroom or a bathroom, or building on to an existing garage. But remember, not all home improvement projects give you the same bang for your buck. As the economy begins to improve, home owners are undertaking smaller projects and focusing on essentials rather than extras. Simple projects, such as replacing doors and windows, upgrading siding, and adding a wood deck are at the top the list for cost recovery here in the Rocky Mountain region.
If you're thinking of making one or more home improvements, consider the following breakdown of costs versus value for some common projects (figures are from Remodeling Magazine, based on 2009-2010 data for the Denver metro area):
|
Project |
Job Cost |
Resale Value |
Cost Recouped |
|
$49,346 |
$40,992 |
83.1% |
|
$62,067 |
$46,825 |
75.4% |
|
$10,634 |
$8,573 |
80.6% |
|
$82,756 |
$54,051 |
65.3% |
|
$58,432 |
$36,361 |
62.2% |
|
$14,304 |
$8,428 |
58.9% |
|
$19,731 |
$13,133 |
66.6% |
|
$10,607 |
$8,476 |
79.9% |
Home improvements can increase the resale value of your home; let the Bandy Team show you how. Call Bandy Homes today; we're happy to answer any questions you may have about the Denver real estate market. We'll show you all of the benefits of owning a home in Littleton, the perfect house in Parker, or a great property in Lowry.
Marianne Bandy
Find a home in Saddle Rock in Aurora, Colorado
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