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Archive for December, 2010

Most Cost Effective Home Improvements? Exterior.

by Michael Scheffe | December 16th, 2010

 The 2010-11 Remodeling Cost vs. Value Report  is out.  And this year Realtors rated exterior improvement projects among the most cost-effective, demonstrating that curb appeal is still king when it comes to resale time.  In fact, nine of the top 10 most cost-effective projects on the list are exterior projects.

The report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country.  Recognizing that housing trends are different as you travel across the country,the report divides the country into regions and reports the data separately for each region.  The on-line version of the new report allows you to select the region of the country and major metropolitan area you’re near for the most relevant information.

According to the report, replacing a front door returns the most money, with an estimated 102.1% of cost recouped upon resale.  It it is also the only project in this year’s report that is expected to return more than the cost. 

A mid-range garage door replacement, a new addition to the report this year, is expected to recoup 83.9% of its cost.  Both projects are small investments that cost little more than $1,200 each, on average.  The Realtors surveyed identified these two door replacements as projects that can significantly improve a home’s curb appeal. 

A great description of these projects and their costs can be found on the National Association of Realtors’ website.

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