Close

Maria Alvarez

Realm Real Estate Professionals - Katy
< BACK Subscribe

Getting the Greatest Value Out of Home Remodeling

June 17th, 2021



Whether youve lived in your home for two years or 20, there is bound to be something about it you would like to change. Maybe you want to update your master bathroom or perhaps youve been sketching a garage addition.

Whatever your remodeling dreams may be, certain projects offer real-life payoffs when you decide to sell your home. Even if you may not think you will be selling any time soon, it doesnt hurt to keep your homes resale value in mind for the future. Here are a few things to consider when planning your home improvements.

Remodeling magazine publishes an annual Cost vs. Value Report that compares the cost for popular remodeling projects to the amount the projects recoup when the homes are sold. According to their latest report, all remodeling projects in the Texas region offer less than a 100 percent return, although some projects come closer to paying for themselves than others.

According to the survey, the project that retained the most value in the Texas region was replacing entry doors (83.6 percent). While that may not fit your idea of an exciting remodel, they are projects that hold their value at resale. Replacing existing siding with fiber-cement siding also scored high (79.6 percent), as did replacing the garage door (74.5 percent).

Dont go for flashy

The value of home improvements can vary from city to city and even neighborhood to neighborhood. One constant, however, is that odd or unusual projects may not increase your homes appeal to the average prospective buyer. If you plan to stay in the same house for years to come, go ahead and turn your living room into a replica of NRG Stadium. Be aware, however, that if you do choose to sell, it may stand out to potential buyers for the wrong reasons.

Generally, low- and mid-range projects hold their value better than upscale remodels. For example, an upscale, major kitchen remodel with an estimated cost of more than 100,000 returned only 63.3 percent according to the Cost vs. Value Report, while an 18,000 minor kitchen remodel returned 74.9 percent.

There is no single right answer

Its important to remember that every home in every market is different. Its true that the data says you wont get much return on your investment from adding a sunroom (49.7 percent), but what if you really want a sunroom? Or what if most homes in your subdivision have sunrooms, and you think youll be at a disadvantage competing against them when you sell?

The report from Remodeling magazine is a good place to start, but for specific advice about how a room addition or other improvement may affect the resale value of your home, ask a Realtor. And if youre already planning a move, a Realtor can even help you choose projects that might help your home sell faster.

To learn more about selling and owning a home, visit HAR.com.


Join the discussion

To post a comment on this blog post, you must be an HAR Account subscriber, or a member of HAR. If you are an HAR Account subscriber or a member of HAR, please click here to login. If you would like to create an HAR Account account, please click here.

Login to Comment
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

Join My Blog

Finding the Right Home
Realm Real Estate Professionals - Katy
24044 Cinco Village Blvd #150, Katy, TX 77494   Get Directions
Phone: (281) 598-5800
Fax: (281) 870-9995
  • Archive
    •     2022
    •     2021
    •     2020