Thinking about remodeling your home? Many homeowners don't think about remodeling until they're ready to sell. This is wise, but, only in part. Remodeling recovery rates were down in 2007 from 2006 due to rising remodeling costs and slowing home appreciations. Currently, if a remodel is recently completed before listing it for sale, the recoup rate ranges from 60-86%, depending upon the project. This may change a homeowner's perspective - make the decision to do the remodel job based on your own personal enjoyment first, but, get an experienced Realtor's advice regarding the remodel project of choice for resale purposes in the future.

Remodeling "cost versus value" varies widely depending upon other factors in the house and the surrounding area: location, market conditions, competition, condition of the rest of the house, values of neighboring properties, and wise remodeling project decisions to maximize the rate of return. For instance, a home office remodel project will only yield about a 60% rate of return upon sale on a $25k investment. In our region, the highest remodeling recoup rates have been (approx.): $11k fiber-cement siding replacement at 89%, $9k wood deck addition at 85%, $20k kitchen remodel at 83%, and $54k basement remodel at 81%. Bottom line - keep your house up every year that you live there and it won't be so overwhelming when it's time to sell.

Buying? Consider it a 5+ year investment and let me put you in touch with a reputable lender.  Selling? Contact me if you'd like a "market snapshot" of your neighborhood to show you how your home compares.