Every November I look forward to reading the annual statistics provided in Remodeling Magazine's Cost vs. Value in home improvements and remodeling.  Knowing these numbers allows me to make accurate recommendations to my clients who are selling a home in Rancho Santa Margarita.  They want to know, "If I remodel my kitchen will I sell my Rancho Santa Margarita home for more?" or "Is it a good idea to install vinyl windows before I sell my home in RSM, or would it just be a waste of money?"

A few years ago remodeling was all the rage in South Orange County.  New homes sales with upgrades galore were a hot market.  To keep up with the Joneses, many homeowners pulled money from low-rate equity lines of credit to finance a number of home improvements.  At the time the cost vs. value reports indicated that money spent on some home improvements was money well spent.  A seller could be reasonably assured that a $15,000-$20,000 bathroom addition or a $75,000-$80,000 second story addition would at minimum be recouped at time of sale.

I don't need to tell you that times have changed.  Selling a home in Rancho Santa Margarita is more challenging today than it was a few years ago.  For one thing, tightened credit standards have wiped out a nice slice of the potential buyer pool.  Additionally, the number of homes on the market, while improved in comparison to 2007, is still considerably higher than it was four to five years ago, especially given the limited number of qualified buyers.  In this economy every dollar counts. Make sure that know your housing market before you hire a contractor.

Read the entire post at Rancho Santa Margarita Homes & Lifestyles

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