Does Remodeling Help Increase Your Home’s Value?

vinyl windows roswell gaIf you’re living in a home with any out dated features, you might want to consider a little update before trying to sell it.  Outdated features are often overlooked here are few that might help  When considering what home improvements to pursue, it is helpful to understand what projects will help increase your home’s value and return the most on your investment. To help consumers make these decisions, each year the National Association of Realtors works in conjunction with Remodeling magazine to identify the most and least cost-effective home improvement projects.

1. First impressions are everything 

Whether you’re buying, selling or totally content in your home, one of your most important features is your curb appeal. It’s the first impression someone gets when they see your home.  The right replacement or remodeling project, when done well, also has the potential to make for a quicker sale and to reduce negotiations with buyers over perceived shortcomings. Real estate agents are experts on the homes in your area and can provide this type of insight to homeowners who think selling may be in their future.

2. Think energy when you are buying new appliances or updating your windows

From a practical standpoint, Ferber says, newer appliances are also more energy efficient, and that’s another thing homeowners at any stage should consider.

“Buyers are becoming more energy conscious,” he says. That includes not only appliances, but also good-quality insulated windows, energy-efficient heating systems and a furnace that’s been recently replaced.

Naples suggests buyers should make note of the energy costs associated with the homes they are considering purchasing, as well as the home maintenance records, in particular for the furnace and air conditioning. Homeowners, in general, should be mindful of keeping thorough maintenance records.

Significantly, for the first time in four years, improved resale value of residential housing had more of an influence in the cost-value ratio than construction costs. A modest 2.2% increase in average national construction costs was more than offset by an 11.5% improvement in average national resale value. This reverses a trend that began in 2010–11, when construction costs dropped dramatically, but resale values dropped even more, driving the ratio down. The situation began to change in 2013, when lower costs were mainly responsible for across-the-board improvement in the cost-value ratio. While this was good news for the remodeling market, costs remained volatile and housing values had yet to stabilize. In what is perhaps the most positive sign in this year’s data, rising resale value is driving the overall market improvement.

Replacements—especially door, window, and siding projects—once again outperformed larger discretionary remodeling projects, when judged solely by national ranking Remodelers.

 

If you are considering selling your home or you have moved into a home that needs updating.  Give Jeff a call for help when shopping for vinyl windows 770-318-8514