As you sit down to consider your goals for 2009 don't forget to consider your housing in your future plans. Are you going to put your home on the market? Are you going to remodel or upgrade your home? Whether you plan to sell or sit tight one thing is for certain. You house is one of your biggest assets. And, according to the NAR (National Association of Realtors), it pays to upgrade and remodel your home in Omaha.
Remodeling Magazine in cooperation with the NAR produces a Cost vs. Value Report every year. This year statistics indicate that nationally home values have fallen 7% while the value of homeowners' investment in remodeling projects has declines only 3.86%. This year's study expanded to 79 local markets of which Omaha was one. I've picked 6 of the top projects with the best return in Omaha.
Omaha's top projects all fall into the nation's top projects: decks, siding, windows and kitchens. Adding a deck, the study shows a resale value of 76.1%. Improving your home with Fiber Concrete siding gives a 79.9% cost recoup rate. A minor or major Kitchen remodels show a 73.3 / 72.7% rate. Replacing windows with new vinyl windows result in a 72.4 recoup cost rate.
It's important to remember that none of these percentages are guarantees. NAR recommends you meet with a reputable local contractor to carefully estimate the cost of any job you wish done. Then contact your real estate Agent to talk about home prices in your neighborhood. With all the facts you can make an intelligent decision about improving your most valuable asset.
Please email me at marie.otis@cbshome.com or give me a call at 402-697-4251 to discuss the project you have in mind. Together we can make certain you achieve your 2009 housing goals. Happy New Year!!
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