Return on Investment Varies for Home Improvement Projects

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Real Estate Sales Representative with DIR-USA.com

How to Sell Your House - Loudon County VA: If you have had a home inspection of your property before putting it on the market, consider carefully whether you will repair or replace everything the inspector found. Some of the things you fix will be a good investment and some things will not.

Return on Investment Varies for Home Improvement ProjectsThe replacement of all of the wood framed windows in an average house, for example, will cost approximately $11,000 if done in wood. About 85% will be recouped when you sell, as you will receive only $9,500 or so for the upgraded windows. Vinyl window replacements, on the other hand, are less expensive at the outlay but doesn’t get quite as big of a return, weighing in at 83%. Window replacement is one of the better investments.

A roof replacement is a common one, as wherever a house is ready to be sold, it has often been several years since the roof has been replaced. An inspector may find leaks or other reasons that the roof should be replaced if not for the age alone. A roof replacement on a house of average size might cost you $14,000, but you’ll receive only $10,500 on the sale of the house. That’s a 73% return on your investment.

Deciding which items to fix and which to leave as they are is a tough choice. You can leave the roof as long as there are no leaks into the house, adding an allowance for the buyers in the terms of your contract. Replacing the siding with vinyl will make the house look fantastic if it’s otherwise somewhat tattered. At an average cost of over $9,000 with a return of $8,000 at the sale, it might only be 83% return, which isn’t terrific. The biggest factor here, though, is that the house will look new and fresh and is more likely to sell. That’s valuable in itself.

Be careful about putting too many major repairs off while planning to offer the buyer a good discount for the repairs or replacements they’ll need to make. Many buyers are very hesitant to buy a house that will need lots of work, regardless of the discounts you give them to get the work done.Consider how much you have to work with as far as replacements and repairs are concerned. Try to do some of the work yourself to save money, but only if you know that you can get it done well.

Return on Investment Varies for Home Improvement ProjectsWe’re a group of Professional Home Buyers who buy and sell houses in any condition or price range all over Northern Virginia and are actively seeking to buy houses today in all Northern Virginia areas. We are a multi-service company who has the ability to BUY, REPAIR, MARKET, and SELL HOMES.

We Buy Houses in the following Counties in Virginia – Fairfax County | Loudoun County | Hampton Roads | Prince William

 

 

 

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