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Question: Is it worth it to [insert project description here] to my home?

Front DoorAnswer:  Review the Cost vs Value Report

The new 2015 Cost vs Value Report is out.

This is an excellent study and a wonderful resource. Use it as a guide to find out what a kind of return you might anticipate at sale of certain home improvements or gauge the approximate of cost projects you are considering for yourself.  In either case, it’s a great reference tool.

Biggest take-away is that very large projects are unlikely to return full cost. But, there are absolutely some improvements that will improve your property’s position in the market (there are simple, low cost, improvements that can make your home more appealing to buyers).  And, depending on the time between the completion of the improvement and the anticipated sale, there is the “personal enjoyment” factor to consider.

It’s no surprise that some lower cost improvements, primarily those that enhance curb appeal come in at or near cost.  In many cases, entry and garage doors, may be a good idea.

On the larger scale, the biggest return is in kitchen improvements. Return on this is close to 80% (think of the personal enjoyment for the value of the other 20%) and absolutely the “positioning” statement as mentioned earlier.

The report is broken down by region and then again by major city, so you may not find “exact” costs for your town, but you can sure check it out by “rule of thumb”.

If you want professional advice about what to do (or not do) to maximize your position and return upon sale in the Corvallis or Albany Real Estate Market, feel free to get in touch.  There are many things you can do to improve the value and position of your home in the market–not all of them are construction projects.  I’d be happy to visit with you about what’s needed to properly position your home in the market to maximize return upon sale.  There is never a cost or obligation,  just give me a call or send a text or email and we’ll set up an appointment.

About Dava Behrens

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