Market Conditions in Hanover>Question Details

Tammy, Other/Just Looking in Hanover, PA

we installed centrail air and a new boiler and also a hot water heater last year, along with a brand new

Asked by Tammy, Hanover, PA Mon Mar 10, 2008

bathroom that was gutted, how much value did we add doing this? we live in the hanover pa area

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The C/A and Bathroom are a big plus. You will see a return on these items The water heater and boiler are thing that need to be done and are maintance. However they are all great selling points. A buyer will sure lean towards a home that has new heat and air. Bathrooms and kitchens are where you will see the most return. If you want a home evalution let me know. This will give you an idea of what the market is doing in your area... Best way to tell you where you are now...
1 vote Thank Flag Link Mon Mar 10, 2008
Tammy,

Check out http://www.costvsvalue.com/middleatlantic.html.

This may also help you.
1 vote Thank Flag Link Mon Mar 10, 2008
Expect a return for C/A and bathroom, but not for boiler & hot water heater. The latter is maintenance, while the former are upgrades.
1 vote Thank Flag Link Mon Mar 10, 2008
This is a difficult question to answer. You did increase the value of your home. Add up the amount of money that you spent on everything.Take the total and multiply by 10%. This is your increase in value,depending on the types of materials used,and what type of a/c and so on. The up-side is that you made these improvements and the value of your home did increase,so did your quality of life.
1 vote Thank Flag Link Mon Mar 10, 2008
All depends on what a buyer will spend. Kind of like home equity...it has no rate of return...just goes up or down based on market conditions. A buyer may like the central air improvements but not like other aspects of the home that could still influence their offer; or how much additional work is needed that would lead a buyer to pass. You just don't know really how the improvement will affect the value unless of course you are renovating the entire home...that will usually give you a more accurate value...however, the question then comes down to - are you doing too much remodeling/renovation given the other things buyers consider like: location, schools, neighboring homes, etc, etc...
Overall, it would be good to have an agent who is highly experienced in staging and getting remodeled homes for the best possible price. They will evaluate your home and be better at giving you the best direction for making improvements that will raise the value.
Tom Hinz http://www.shortsaletosell.com
0 votes Thank Flag Link Thu Jul 2, 2015
It's likely that you added significant value with the upgrades. bathrooms are a big deal! but new boiler and some other issues would be expected by most reasonable buyers, and therefore may not add their own value.

if you want a great improvement that adds a lot of value, landscaping often offers a return of several 100%
0 votes Thank Flag Link Tue Jun 30, 2015
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