Remodel or sell?
You’re probably aware that we are smack dab in the middle of a strong sellers’ market, but that doesn’t necessarily mean it’s a good time for you to sell.
If you’ve concluded that it’s best for you to stay put right now, despite the high prices that many homes are commanding, you may be interested in doing some remodeling. If so, the next question is what project to tackle first? Perhaps you want to find a happy medium between making improvements that will increase your home value and those that will increase your home enjoyment.
Remodeling Magazine conducts an annual survey of home remodeling costs, and shares the results in their Cost Vs. Value report, which is available online for free download. To take advantage of this valuable info, go to www.remodeling.hw.net and click the “COST vs VALUE” tab at the top of the page.
You may be surprised to hear that projects involving replacement are generally less expensive and more apt to recoup their cost than remodeling projects. These smaller jobs are most impactful when they involve exterior features because first impressions are extremely powerful. For this reason, the top projects (nationally) with the best record for recouping their costs are:
1) Entry door replacement (101.8%)
2) Manufactured stone veneer (92.2%)
3) Garage door replacement (88.5% – 82.5%)
4) Siding replacement, fiber cement (84.3%)
Read the report for more specific information about the Seattle area and low, moderate, and high end price tiers.
Posted November 4, 2015