When remodeling a home, what is the cost vs value? Remodeling a home can certainly add value, however, not all projects are created equal and some will yield a much higher return than others. According to the recent Remodeling 2015 Cost vs. Value Report (www.costvsvalue.com), there are a few projects worth considering based on the amount of return on investment upon resale.
One of the best things to do is to replace your windows because your cost recouped will be over 100% when you go to sell! Replacing windows in a home will average between $10,000-$12,000, but it is well worth the cost when the value added is even more than the investment! Buyers love to walk into a home that has brand new windows because it not only improves energy efficiency, which is very important to Phoenix home buyers, but oftentimes replacing windows will also update the look of the home.
Replacing your entry door with an iron/steel door will not only add huge amounts of curb appeal, but it will also add a lot of value! This is a lower cost project with an average expense of around $1100, depending on the size of the door, however, the cost vs value is over 88%. Some iron entry doors also offer built-in screens and they also offer added home security which is always a great thing.
Another valuable project to consider for a home remodel is to update the bathrooms. Even though the average cost of a bathroom re-do is around $15K, the cost recouped is over 80% and everyone knows that kitchens and bathrooms are very important to home buyers. A minor kitchen remodel, like updating countertops, re-facing cabinets or having the cabinets re-finished, can cost around $18K to complete, however the value is high at 73% return on the investment.
If you have specific questions about what projects to tackle in your home (if any), prior to listing it for sale, please don’t hesitate to reach out! I’d be happy to meet with you and walk through your home to give you ideas on improvements that will not only help your home sell quickly, but for top dollar! Sometimes it’s as simple as adding a fresh coat of neutral paint inside and out and cleaning carpets/tile to get your home ready to sell. Other times, a home will be ready to sell just as it is without any need for remodeling or renovations. Let me help you decide if and where to invest your money and I can also provide you with a FREE Market Analysis of your home’s current value.
As a full-time, experienced Realtor living and working in the areas of Queen Creek and San Tan Valley Arizona, I am always available to answer your real estate related questions. If you are interested in buying or selling a home in Queen Creek or San Tan Valley Arizona, or if you would simply like a FREE market analysis of your property, then please do not hesitate to contact Karen Berg at 602.919.2375.
Of course I’d love to help you any time you need to buy or sell, but I’m also here for you any time you have a question about the market. You can also feel free to call if you’re simply curious about the listed or sold price of a house down the street. I’m looking forward to hearing from you soon!
Queen Creek Realtor
21321 E Ocotillo Rd C108
Queen Creek, AZ 85142