Simple Upgrades Translate into Home Equity

Is that next home remodel worth it?

The Atlanta Home Inspector likes to share ways for you to maximize the value of your home. Some details are worth the overhaul of your home, while others aren’t as threatening  and are more cosmetic in nature. Listed below are the actual return expectations on simple upgrades to your Canton home.

Expected to reach a total volume in excess of millions this quarter, home improvement projects are booming. Unlike in recent years, however, the projects aren’t helping to create much new home equity. It is good to determine how much return you desire from your upgrades, before beginning the remodeling process.   For each home improvement dollar spent in 2012, homeowners can expect to recoup just 58 cents in home equity according to the  Cost vs Value Reports for 2011-2012 in  Remodeling Magazine. This figure is down sharply from about 5 years ago.

Today’s Canton homeowners get a much smaller payoff than in the past on their home improvement projects. If you’re planning to remodel/update in preparation for sale, therefore, consider the following projects, each of which carries a high cost-to-value ratio.

From Remodeling Magazine’s “Mid-Range Project” list :

  • Steel Entry Door Replacement : Cost, $1,238; Recoup, 73.0%
  • Attic Bedroom : Cost, $50,184; Recoup, 72.5%
  • Minor Kitchen Remodel : Cost, $19,588; Recoup, 72.1%
  • Garage Door Replacement : Cost, $1,512; Recoup, 71.9%
  • Wood Deck Addition : Cost, $10,350; Recoup 70.1%

By contrast, other projects carry a low cost-to-value ratio, and should only be undertaken if the project’s utility exceeds its cost. These projects don’t do much to raise a home’s resale value.

  • Home Office Remodel : Cost, $27,963; Recoup, 42.9%
  • Sunroom Addition : Cost, $34,133; Recoup, 45.9%
  • Backup Power Generator : Cost, $14,760; Recoup, 47.5%
  • Bathroom Addition : Cost, $140,096512; Recoup, 51.0%
  • Fiberglass Entry Door Replacement : Cost, $3,536; Recoup 56.3%

In the “Upscale Projects” category, projects including the replacement of doors, siding and windows occupy the list’s first 6 slots in terms of cost-to-value. 

If you’re planning a home improvement project over the next few months, the timing is right — both contractor costs and material costs are low nationwide, and improving a home can extend its useful life.

Do us a favor if you or someone you know is about to buy that perfect home, please recommend us to them. When you find your dream home, make sure that you get a thorough home inspection in Atlanta, GA from the home inspector Atlanta, GA, David & Bonnie Lelak of IHI Home Inspections, they serve Atlanta and all of North Georgia. Call us today at 404-788-2581 for a thorough home inspection in Atlanta. We won’t let you buy the money pit.  You can also schedule your Atlanta home inspection today online.  We create Peace of Mind One Atlanta home inspection at a time.  Be sure to check out all the other reasons other customers chose IHI Home Inspections at our original website. 

See the complete Cost vs Value report online.

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