Biggest Bang On Your Renovation Buck

Biggest Bang On Your Renovation Buck

As we saw all last year and now into 2014 in the Greater Raleigh area, home prices are moving upward! As the spring market begins to heat up, sellers are getting their homes ready to be put on the market.  As a seller tries to decide what the best home improvements should be, the cost they could potentially recoup when selling their home is a major factor in their decisions on what improvements to make.   So what improvements really give the best bang for a sellers buck?  Every year a Cost vs Value Report is recreated by the digital magazine RemodelingEach year, in conjunction with Realtor Magazine, Remodeling magazine evaluates and report those home improvement projects that offer the best rate of return. Nationally, here’s their Top 5 List:
1. Entry door replacement (steel) Estimated job cost: $1,162 Estimated resale value: $1,122 Cost recouped: 96.6%
2. Deck addition (wood) Estimated job cost: $9,539 Estimated resale value: $8,334 Cost recouped: 87.4%
3. Attic bedroom Estimated job cost: $49,438 Estimated resale value: $41,656 Cost recouped: 84.3%
4. Garage door replacement Estimated job cost: $1,534 Estimated resale value: $1,283 Cost recouped: 83.7%
5. Minor kitchen remodel Estimated job cost: $18,856 Estimated resale value: $15,585 Cost recouped: 82.7%

The Raleigh area is very comparable to the National List with a few additional remodeling projects to consider. Adding a Two-story addition may be a large remodel but it does offer an almost 70% value back at resale. Also, replacing that old siding with new will give you a 65.6% return. From Fuquay-Varina to Cary to Wake Forest, a home improvement will make the difference. Regardless of what improvements you decide to make in your home, remember that everyone's tastes are different so keep the improvements simple to appeal to a broader range of people and I'm sure that your renovation will be worth it! 

Johnathan Stroud Headshot
Phone: 919-443-0200
Dated: March 24th 2014
Views: 11,516
About Johnathan: Johnathan is a native of North Carolina and currently lives in North Raleigh. His ambitious and goal...

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