For the second year running, the National Association of Realtors has said that that exterior remodeling projects return the most money as a percentage of cost, as detailed in the 2008 Remodeling Cost vs. Value Report.
Now is the time for you sellers to get finishing those projects! The highest returns were seen on wood decking and all siding works where more than 80% of the cost was recouped.
With a great selection of homes on the market a property really has to stand to buyers and homes with outstanding projects will not sell nearly as fast or even at the price listed!
2008’s Cost Vs. Value report really is of importance to buyers and sellers in this market. With the National Association of Realtors being a trusted source in Real Estate, this years report compares the construction costs with resale values for 30 midrange and upscale remodeling projects comprising additions, remodels and replacements in 79 markets across the country.
Interestingly, all types of window replacements returned more than 76 percent of costs. A major midrange kitchen remodel returned 76.0 percent of project costs and bathroom remodels returned around 74.4 percent, which is slightly lower than previous years.
Of course the value returned on a project also depends on your homes overall appearance. So sellers, make sure to tidy up, clean and declutter!
If you are looking to purchase a property in New Albany Ohio or the surrounding area in Central Ohio such as Gahanna, Plain Township or New Albany itself, then please contact The Raines Group for professional Real Estate advice in the region. The Raines Group are more than happy to assist you in your real estate needs. Contact them today via their online contact form or by calling Sandy Raines on: 614-418-7417