Test Your Home Value Knowledge

 

 

Take this quiz to see how much you know about which improvements can increase buyer's interest, and discover how to have a profitable remodel project. Don't forget to use the answer key below if you need a little help. 

 

 

1. Which of the following should you do before you start a remodeling project?
   1. Check out your neighbors' house so you can be sure that your remodeling project looks better than theirs.
   2. Do the biggest remodel project you can afford.
   3. Go to several open houses and see what is standard in your area.
   4. Visit the most expensive home in town and copy the style.
2. Green updates appeal to buyers because they offer long-term savings on energy costs.  Which of the following updates would be the best return on investment?
   1. Energy efficient windows
   2. Recycled paper countertops
   3. Cork or sustainable wood flooring
   4. Solar panels
3. The following features will sell your home during a buyer's market:
   1. Updated baths and kitchens
   2. An in-demand location
   3. The right price
   4. All of the above
4. If the homes in your area have modest kitchens,  you will get the best return on your investment by doing the following:
   1. Do not update your kitchen and embrace its current design.
   2. Create your dream by kitchen by upgrading to granite countertops and stainless steel appliances.
   3. Get new laminate countertops and refinish or painting the cabinets.
   4. Remodel your kitchen with a Tuscany theme.
5. According to Remodeling Magazine's 2009 Cost vs. Value report, the home improvement that brings the biggest return on investment is:
   1. A new roof
   2. New fiber-cement siding
   3. A home office remodel
   4. A major kitchen renovation
6. Which outdoor project will get your more money back when you sell?
   1. Low-cost landscaping
   2. Planting full-sized trees to create shade
   3. Installing an in-ground swimming pool
   4. Adding a life-size replica of the Trevi Fountain in your front yard
7. Which of the following remodel projects could decrease your chance of selling your home?
   1. New energy efficient appliances for the kitchen
   2. A swimming pool or hot tub
   3. An extra bedroom in the attic
   4. Neutral paint throughout the home
8. If you are planning to put your home on the market, you can increase your home's value by:
   1. Redecorating your home
   2. Making minor repairs, like torn screen doors or cracked ceilings
   3. Raising remodel money by holding a bake sale
   4. Taking courses to learn how to become an expert in home building
9. The following projects have the lowest return on investment when you sell:
   1. An attic bedroom with walk-in closet
   2. A home theater with a 52 inch projection screen
   3. Remodeling basement with a wet bar
   4. A office remodel with a mahogany built-in desk
10. Before you start a remodel you should consult:
    1. A home inspector to see if your home needs costly repairs
    2. A local real estate agent to find out the cost recovery of improvements
    3. A contactor for estimates
    4. All of the above

Answer Key:

1. c     2.  a    3. d    4.  c   5.  b   6.  a   7.  b   8.  b  9.  d  10.  d

How did you do?  Even if you scored a perfect 10, Don Wenner can offer you tips to help you sell your home in the Lehigh Valley.   Visit donwenner.com for the best properties in Bethlehem, Easton, or Allentown.