Sunday, December 30, 2007
Quick Resale Value Investment Statistics
Heed the Stats, Avoid the Pit
Everyone loves statistics, so here are a handful from Remodeling Magazine.
A great deal of the money you invest in home improvements is added to the resale value of your home. According to Remodeling Magazine, the top remodeling investments are:
A minor kitchen remodel -- you can expect to recoup 94 percent of your investment when you sell your home
Bathroom remodeling -- resale value 77 percent
Deck addition -- resale value 73 percent
Siding replacement -- resale value 71 percent
Home-office addition -- resale value 69 percent
Window replacement -- resale value 68 percent
I know some Real Estate brokers will disagree with some of the percentages, but these numbers are an amalgam of stats from around the US...obviously, adding a deck on 77th and Columbus won't add value (but may get you committed), so New Yorkers should take this with a grain of salt.