Remodeling Projects: Evaluating Cost vs. Value

Subscribe to articles about Borrower's Tips

Remodeling Projects: Evaluating Cost vs. Value

Home renovations can be tricky. You want to improve your space (and the way you live in it). But you don't want to end up in the red when it comes time to sell. Before you splurge on that chef's kitchen or a steam shower in your bath, make sure your projects enhance your home in the eyes of future buyers as well.

Here are few improvements that Remodeling magazine says will return the most on your renovation dollars. (The examples below reflect 2014 numbers.)

Under $5,000: Functional, secure and energy-efficient entries are chief priorities in this price range. Your best bet is replacing your front door with a sturdy steel unit. Finish it with an antique brass lockset, and you can expect to recoup 96.6 percent of your investment. A garage door replacement offers an equally respectable 82.9 percent return.

Between $5,000 and $25,000: A wooden deck is tops for a mid-range budget, recouping 87.4 percent of the $10,000 you can expect to spend. A minor kitchen remodel also fares well: Budgeting $18,000 for fresh paint, a new oven, new floors, fixtures, countertops and new doors on existing cabinetry typically results in recouping 82.7 percent at resale.

From $25,000 and $100,000: An attic bedroom is a romantic notion, and it offers the best return at this price range. Converting the space into a bedroom and bathroom (with shower) will get you back 84.3 percent of your spend. Likewise, a newly finished basement returns 77.6 percent.

Need cash to do so? No problem, contact http://www.HomeLoan168.com. We may re-finance your home to get cash out and in the mean time reduce your payment as well!

California Mortgage Rates


Related Articles

January 27, 2015

Making the Switch to Renewable Energy

Making the Switch to Renewable Energy Does winter - and the high energy costs that come with it - have...

July 16, 2014

Five tips for first-time home buyers

Five tips for first-time home buyers Whether your dream home is a downtown bachelor pad a suburban family home or...

December 30, 2011

Employment and Mortgages

Employment is needed to qualify for a loan since you need to pay the investor back somehow How much you...

More Mortgage Articles