I am often
asked by sellers if it is worth it to renovate before putting a house on the
market. The 2014 cost vs. value report that appears on the website Remodeling
can be helpful in making that decision. The numbers I am citing here pertain to mid-range
work done in the Philadelphia region, which is the city and the suburban
counties. But you can find the numbers for just about anywhere in the country,
in addition to numbers for upscale renovation projects. You can check out the
report by clicking on the state or region at http://www.remodeling.hw.net/cost-vs-value/2014/
at the 2014 report, it is interesting to note that installing a deck has been
supplanted as the No. 1 renovation project in the Philadelphia region by remodeling
the attic bedroom. The report has the cost for the attic work at $58,471, with
a return on your investment of $43,324, or 72.4 percent. That is the highest percentage
return of 22 renovation projects.
place was the wooden deck installation. It would cost $11,601 with a return of
$7,966, or 68.7 percent. In third place was window replacement (wood) at
$12,209 with aÂ return of $8,118, or 66.5
percent. Fourth place went to steel entry door replacement, which would cost
$1,297 with a return of $852 or 65.7 percent, while fifth place belonging to a
major kitchen remodel at $61,746 with a return of $39,700 or 64.3 percent.
other projects on the report that would cost less than $10,000 are the garage
door replacement at $1,717 with a Â return
of $978 or 57 percent, and entry door replacement (fiberglass) atÂ $2962, $1,372 and 46.3 percent.
with the worst return on investment percentage wise was the home office
remodel. The cost is projected at $31,944 with a return of $13,293 or an
underwhelming 41.6 percent.
If you are
thinking of selling your home in Pennsylvania and would like to discuss the
report, feel free to contact me.
a question about real estate in Bucks or Montgomery counties. Call, email or
215-794-1070 Ext. 117