Tuesday, February 26, 2013

Beware: Cost vs. Value Gap

Thinking of doing a remodel or updating your home?  Not all improvement projects are created equally, so do some research before your rush off to the hardware store!

The 2013 Cost vs. Value Report, co-published by Remodeling Magazine and Realtor Magazine, shows that “curb appeal” improvements are catching buyers’ eye more than anything else these days.  In fact, the project with the highest return on investment will actually cost you the least- simply replace your front door! 

Other chart topping improvements include window replacement, wood-deck additions, and garage door replacement.  If you’re prepared to spend more money, consider doing a kitchen upgrade or replacing your home’s siding with fiber-cement or foam-backed vinyl.  You may want to steer clear of home office remodels and garage additions that will only recoup about 40-47% of their cost. 

(Source: Remodeling Magazine)   

If you’re curious about your home improvement options and the local professionals best suited for the job, you may want to stop by the Midland Home & Garden Show March 1-3 at Northwood University’s Hach Student Activity Center.  Hours are Friday 4-8pm, Saturday 9am-6pm, and Sunday 11am-4pm.  Tickets are $4 for adults and $3 for seniors, kids 17 and under are free. 

For more information about the cost vs. value of home improvement projects in your region, visit Remodeling or REALTOR Mag.
Have you experienced a gap in improvement project cost and value? leave a comment and tell us about it!

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