Fix up the kitchen, add a sunroom, or replace the siding? What would you do to improve the value of your home?
You may be interested in a report just completed for the National Association of Realtors (NAR). It compares costs and resale returns for a number of projects, some small and some large.
The study represents 29 projects in 60 different markets in the United States
The top four, in terms of rates of return were:
Garage Door Replacement 93.3%
Stone veneer 91.4%
Minor kitchen 71.2%
Siding replacement 68.3%
One particular matter of note is that, exterior improvements represented 3 of the top 4. So, that’s where you should spend your money.
Then, on the other hand, do nothing! That’s a neutral: but you have a 100% return.
If you are interested in some of the other statistics comparing the project costs and the percentage return, please look at:
This site will set out all the figures. Naturally, it might vary from one area to another.
Brian Madigan LL.B., Broker