According to theÂ 2011â€“12 Cost vs. Value Report, conducted in cooperation with REALTORÂ® Magazine and NARâ€™s HouseLogic.com, certain remodels and home additions can really add to the value of your Broward County, FL home when it comes time to sell. An important thing to keep in mind with any remodel: if you are making major improvements that you and your family will enjoy while occupying the home, then the added value cannot be measured in dollars alone. And if you are remodeling for investment purposes, be sure and consult with your real estate professionalÂ prior to beginning the work so they can provide guidance and insight into enhancing the marketability of the property, while keeping costs within your target budget.
Here are some examples of midrange remodels and the average recoupable costs:
Â·Â Â Â Â Â Â Â Â Â A steel entry door replacement averages about $1,072, but 92.2% of this amount will be recouped.
Â·Â Â Â Â Â Â Â Â Â A backup power generator may cost about $14,000, but 85.4 percent of this cost that will be recouped.
Â·Â Â Â Â Â Â Â Â Â Window replacements will run you between $10,000 and $12,000, but the portion recouped is between 80 to 84 percent.
Â·Â Â Â Â Â Â Â Â Â A minor kitchen remodel averages just under $19,000, while the cost recouped averages just below 80 percent.
Â·Â Â Â Â Â Â Â Â Â A major kitchen remodel could run you well into the mid $50,000â€™s, but the recoupable amount is just over 70 percent.
Here are some examples of upscale remodels and the average recoupable costs:
Â·Â Â Â Â Â Â Â Â Â Replacing the roofing may run over $30,000, but the recoupable amount is about 80 percent.
Â·Â Â Â Â Â Â Â Â Â Upscale window replacements could cost between $13,000 and $18,000, but the average recoupable amount is between 73 and 78 percent.
Â·Â Â Â Â Â Â Â Â Â Replacing your garage door averages just below $3,000, but the portion of this expense that is recoupable is just over 70 percent.
Â·Â Â Â Â Â Â Â Â Â A major, upscale kitchen remodel could cost over $100,000, but the average recoupable cost is 62 percent.
This information is based on data compiled within the South Florida area.Â
When you are ready to sell your home in Broward County, FL, contactÂ Loriann Harrison and the LMH Realty GroupÂ online or call directly atÂ 954-237-0713.Â We will take the time to learn about the features and details of your home and highlight its uniqueness thru customized marketing to attract theÂ Right Buyers.Â We focus on targeted buyer demographics, schedule showings, negotiate the purchase contract, vet buyerâ€™s financial profile, oversee the inspections, appraisals, all necessary paperwork and supervise the entire escrow process thru closing.
Loriann is a member of the prestigious Institute for Luxury Home Marketing, and specializes in servicing Luxury Clientele with innovative marketing techniques and exceptional communication skills. She is also an Advanced Certified Distressed Property Expert, (CDPE), with access and insight into lenderâ€™s policies and processes of short sale transactions.
We are experts inÂ Sunshine Ranches, Southwest Ranches, Davie, Pembroke Pines, Miramar, Weston, and Cooper City communities, and bring a wealth of knowledge and expertise about buying and selling real estate here.
This is where we live and work, so few know our market area better than we do. Real Estate is a hyper-local business, so you need real estate Consultants who specializes in analyzing local economic data so you can gain perspective and make informed, intelligent decisions. We are the choice for full-service real estate resource in South West Florida.
Like Loriann on Facebook and be entered into a monthly drawing forÂ a free subscription to Lowes New Ideas magazine!
LMH Luxury Group on Facebook
Florida Realty Now on Facebook
LMH Real Estate on Twitter