Remodeling Projects: Evualuating Your Cost vs Value

By
Real Estate Agent with Brown Realty, 210-789-4216,www.JeremiahNewman.com TREC #0492321
https://activerain.com/droplet/4Bfg

Home renovations can be tricky. You want to improve your space (and the way you live in it). But you don't want to end up in the red when it comes time to sell. Before you splurge on that chef's kitchen or a steam shower in your bath, make sure your projects enhance your home in the eyes of future buyers as well. Over spending on some projects can be devastating when you get that new job offer, and need to quickly place your home on the market before relocating.

 

Wood DeckHere are few improvements that Remodeling magazine says will return the most on your renovation dollars. (The examples below reflect 2014 numbers.)

Under $5,000: Functional, secure and energy-efficient entries are chief priorities in this price range. Your best bet is replacing your front door with a sturdy steel unit. Finish it with an antique brass lock-set, and you can expect to recoup 96.6 percent of your investment. A garage door replacement offers an equally respectable 82.9 percent return.

 

Between $5,000 and $25,000: A wooden deck is tops for a mid-range budget, recouping 87.4 percent of the $10,000 you can expect to spend. A minor kitchen remodel also fares well: Budgeting $18,000 for fresh paint, a new oven, new floors, fixtures, counter-tops and new doors on existing cabinetry typically results in recouping 82.7 percent at resale.

From $25,000 and $100,000: An attic bedroom is a romantic notion, and it offers the best return at this price range. Converting the space into a bedroom and bathroom (with shower) will get you back 84.3 percent of your spend. Likewise, a newly finished basement returns 77.6 percent. Have other plans in mind? Read Remodeling's summary on cost vs. value trends, and jump into your home improvement projects more informed.

 

If you’re looking to purchase your next home in the San Antonio and surrounding areas you can search for homes in San Antonio on my website, and call Jerry at 210-789-4216 for a personal showing. Knowing who to call for those remodeling or rehab loans with help in your decision to buy that home that needs some tender loving care. See San Antonio’s Cost vs Value Projects for 2014 to help in your remodeling decisions on that next home.

Information provided by Jean Marie Warren with Prime Lending in San Antonio, TX.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. C. Lloyd McKenzie 03/29/2015 01:51 PM
Topic:
Home Improvement
Location:
Texas Bexar County San Antonio
Groups:
Realtors®
Texas Real Estate
All Thing's Texas
Bananatude
Real Estate Questions & Answers
Tags:
home improvement tips
remodeling ideas
cost vs value for home imporovements

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Rainmaker
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Sussie Sutton
UTR Texas Realtors - Pearland, TX
UTR TEXAS Realtors - Rep for buyers and sellers.

GREAT POST JERRY!

I have been previewing homes for 2 different buyers and some upgrades that I have seen will surely net the seller what they are looking for.

However, some upgrades made me wonder what in the heck were they thinking? Some homes were thrown together, splitting up the garages so that the home now has one! 

Everyone in Texas drives so there is always at least 3 cars in the driveway!

Mar 28, 2015 04:12 AM #33
Rainmaker
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Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Jerry Good advice in your post and I will have to book amrk the link so I can go bck and read the whole report. Thanks for the data.. 

Mar 28, 2015 05:49 AM #34
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
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Jerry Newman 

Such wise advice here. So many homeowners do not think about this if they are planning to sell. And planning a remodel with hopes of great ROI is not smart. And we all know some things make more sense than others. Some improvements really have to be to enahce your quality of life and not with the expectation of making money. And some thing people do rally end up hurting a sale because of the quality or the uniqueness

Jeff

Mar 28, 2015 07:35 AM #35
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for the report. I hope home buyers and sellers will read it.

Mar 28, 2015 11:49 PM #36
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Great post, Jerry. ANd it could save folks some money in the long run. Hope you're having a stellar Spring. Happy Sunday. 

Mar 29, 2015 02:55 AM #37
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you are enjoying a most productive month as home buyers continue to take advantage of the very low mortgage interest rates.

Mar 29, 2015 04:39 AM #38
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Jerry Newman  Great tips on remodeling-projects--evualuating-your-cost-vs-value

Mar 29, 2015 10:22 AM #39
Rainmaker
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C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Good Evening Jerry

You have provided some excellent tips in this post.  Definitely helpful for anyone considering remodeling their home

Mar 29, 2015 01:43 PM #40
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Great post Jerry, making the right decisions on upgrade can make a critical difference.

Mar 29, 2015 04:29 PM #41
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Sussie, Yes, more folks these days want to be able to park their cars in the garages, and 3 car garages are becoming a standard in many communities here. Turning those garages into living spaces was popular 20 years ago.

Mar 30, 2015 08:09 AM #42
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
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Bob, I trust you'll find the information useful when you come back to check. Enjoy your week!

Mar 30, 2015 08:10 AM #43
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Jeff. Homeowner do have to decide which is more important when they make those home improvement decisions. Are they doing it for resell or just to enjoy?

Mar 30, 2015 08:12 AM #44
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Gita. I am hoping many will stop to read this information. It's very beneficial.

Mar 30, 2015 08:13 AM #45
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Debb, I have been busy this Spring. Not posting as often as I'd like, but I am looking at other ways to draw traffic to my sites.

Mar 30, 2015 08:14 AM #46
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Roy, I am working with 4 different home buyers, and it takes a lot of my time showing homes. Glad Spring is finally here. Wishing you the BEST!

Mar 30, 2015 08:16 AM #47
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, Hannah Williams It just makes good sense to know the outcome of cost vs value.

Mar 30, 2015 08:17 AM #48
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Thanks, C.Lloyd. Great to see you in the Rain again. I replied to your email on MRP.

Mar 30, 2015 08:18 AM #49
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Yes, Bob, You're so right! Spending money wisely is always recommended.

Mar 30, 2015 08:19 AM #50
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Great information, Jerry. So many homeowners overinvest in their homes and/or think they always get back 100 cents on the dollar spent.

Apr 03, 2015 06:12 AM #51
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I usually suggest to understand why they’re remodeling.​ 

Are you looking to up your resale value—or get more square footage? Define your end goal and stick to a budget. 

Nov 07, 2016 08:20 AM #52
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