Remodel & Renovate in 04210>Question Details

Lee Morin, Other/Just Looking in 04210

I bought a house last December. I don't plan on moving right away but I want to put my money into the house

Asked by Lee Morin, 04210 Mon Dec 29, 2008

where it will return, or least add value to the house. projects include, putting up vinal siding, landscaping, refurbish/reface, fireplace and mantel, repair / add extension to deck, or complete kitchen and bathroom remodels. outside of what I feel personall, what should be the peeking order for these projects, so that I can utilize my time and money in the best way. Thank you

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Lynn911.com Dallas Realtor’s answer
Have your realtor who assisted in locating your home run comp's on area and etc. You dont want to put more into the home than comp'd value. Kitchen / bathroom remodel can become costly vs. other project dont appear to be much of expense. Product is cheap labor cost expensive kills a rehab project.

Set a budget stick to it.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Mon Dec 29, 2008
Lee,

Our recommendation is to have a good structural evaluation done prior to doing any of these undertakings. People often begin doing renovations before making the effort to look at the building itself. Once this is done, you can determine your priority order.

But keep in mind that the very first thing many buyers are attracted to is the home presence from the outside. Curb appeal should be a priority.

Secondly, once people enter the home their first priority is the kitchen...then the bath rooms. They are big ticket items that people normally don't want to deal with upon taking ownership.

A very wise person once to me to never put money into a home that you couldn't get out of it. An awareness of the going price for homes in your neighborhood and what it will cost to make these renovations should provide clarity for how far you should take this undertaking.

Keep in mind, there are ways of enhancing without spending a fortune...........

Good luck
0 votes Thank Flag Link Tue Dec 30, 2008
Every year Realtor Magazine published by the National Association of Realtors prints a "Cost vs. Value Report" of home improvements. Here is this year's summary:

Top 10 Project Paybacks

Once again, exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.

1. Upscale fiber cement siding (86.7%)

2. Midrange wood deck (81.8%)

3. Midrange vinyl siding (80.7%)

4. Upscale foam-backed vinyl (80.4%)

5. Midrange minor kitchen remodel (79.5%)

6. Upscale vinyl window replacement (79.2%)

7. Midrange wood window replacement (77.7%)

8. Midrange vinyl window replacement (77.2%)

9. Upscale wood window replacement (76.5%)

10. Midrange major kitchen remodel (76.0%)

"Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission."
0 votes Thank Flag Link Tue Dec 30, 2008
Hi Lee,

I would consult with a Realtor and an Accredited Home Stager prior to making any major renovations. A skilled Realtor can provide you with comps for your area, and should have a good idea of what updates have been made to homes in your area. A Home Stager can assist you in prioritizing those choices, assisting with selection of materials and contractors so that the renovations you make will assist you in selling your home when you are ready to do so. You may want to search for a Stager in your area at http://www.stagedhomes.com. A consultation should run you less than $500.00 and will provide you with a step by step plan.

Best of luck and Happy New Year.

Leigh Newport
Staged by Design
leigh@staged-by-design.com
Northern Virginia Home Staging and Redesign
0 votes Thank Flag Link Tue Dec 30, 2008
I am sure you will get plenty of answers Lee, but I will put my two cents worth in... I would look into something other than vinyl... while prices fluctuate... I think you might find an alternative product (hardiplank or similar) that will add more value to your home than vinyl. Kitchens and baths are historically the best places to put your money in... look at the layout of your home... if you have only one bath... an additional bath would add some value in some cases... or add a bedroom if you have less than three to start with... curb appeal really comes into play once you put the home up for sale, until then landscaping is more for your own likes (just don't go crazy) as well as the tax assessors.
0 votes Thank Flag Link Mon Dec 29, 2008
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