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Consider Resale
Value when Remodeling - Annual Update
Most often,
a person’s home is their largest investment. It’s
therefore wise to consider resale value when undertaking
any substantial remodeling project.
Each November, REMODELING Magazine publishes their
annual “Cost vs. Value Report”, comparing construction
cost with resale value in over 50 markets.
As reported, from a national perspective, 2007’s top 5
projects for return on investment were:
-
Siding
Replacement – upscale fiber cement: 88.1%; midrange
vinyl: 87.2%
-
Deck
Addition/wood: 85.4%
-
Minor
Kitchen Remodel: 83%
-
Window
Replacement/Wood – midrange: 81.2%; upscale 79.3%
-
Window
Replacement/Vinyl – upscale: 81%; midrange: 79.3%
Naturally,
if selling is not in the foreseeable future, one’s first
consideration would be centered on personal use. - - Is
more space needed for a growing family? Would a backyard
pool create the perfect spot for warm weather
get-togethers? The answers to such questions would be of
prime consideration.
That stated, regardless of circumstances, learning more
about the financial impact of a planned remodeling
project is a prudent step. - - It’s your home, know its
value!
Additional information can be found at:
www.remodelingmagazine.com
M. Lee Raia
Re/Create Your Spaceâ
Real Estate Styling®, LLC
(410) 668-8040
www.realestatestyling.com
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