Sellers need to think twice before spending money on home improvements in 2009. When every dollar counts, sellers need to be even more cautious when it comes to spending money on home improvements – especially if they are planning to sell in the near future.Let’s face it. Renovating a home is expensive. The typical West Coast Home Renovation costs 17% more than the national average. Add that to the fact that most home remodeling projects today cost an owner more than he nets out of it at the sale. Today’s seller needs to balance a home’s competitive desirability with the bottom line investment value. In Rancho Santa Margarita that means marketing smarter and easier. It means pricing competitively, not throwing money into unnecessary improvements.
But let’s say you’re an owner who has recently purchased a primary residence for a fantastic price. You factored some improvement cost into your budget before you purchased the home, and your intention is to live in the home for a while. Your primary goal is to turn your new house into a home.
Here are 5 Home Improvement Projects that are close to break-even investments:
Project Job Cost* Resale Value* Cost Recouped*
- Fiber Cement Siding $13,697 $13,172 96.2%
- Minor Kitchen $22,974 $21,944 95.5%
- Wood Windows $20,303 $19,130 94.2%
- Vinyl Windows $16,192 $15,160 93.6%
- Wood Deck $13,125 $12,748 97.1%
If you would like additional cost vs. value information on a specific type of home home improvement, please use the Contact Me button under my photo on the right hand column of this page.
Click here to read about the Top 4 Home Improvements to Avoid in 2009.
Click here to read Should I Remodel My Rancho Santa Margarita Home Before I Sell?
* Remodeling Magazine’s Cost vs. Value Report 2008-2009 – Los Angeles Area