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Remodeling Your Huntsville Home for Sale: Cost vs. Value

By: Huntsville Real Estate Expert Mike Manosky On September 9, 2010

When considering a remodeling job for your Huntsville home for sale in an effort to increase value, it’s hard to decide what should be done. Well, this isn’t exactly true.  If your carpet is old, matted and outdated, for instance, you might want to start there. Grungy wooden kitchen cabinets? That’s another starting place.

However, if your Huntsville home for sale is in darn good condition (if you do say so yourself) and you’re not being noticed by buyers, you just might be asking, “What can I do to improve?”

toolsWell, for frustrated, confused homeowners, there is good news. You don’t have to guess. Twenty-two years ago, Remodeling magazine, with cooperation from REALTOR® Magazine, began publishing an annual “Cost vs. Value Report.” This report covers 33 possible home remodeling projects over 80 cities.

The recouped cost for many of these projects has been slowly declining since 2006 or, in some cases, rapidly dropping. However, the recently released 2009-10 Cost vs. Value Report for home remodeling shows some surprising increases.

If you just look at the trends from 2008-09 to 2009-10, you might think any type of addition or change would be a waste of money. When looking over the report, though, pay attention to the recouped cost. For instance, a little red arrow says a wooden deck addition is dropping in resale value, while the recouped cost is still 80.6%. Not bad in a hard buyer’s market.

If you don’t want to look at the report, I understand – it’s a lot of numbers. So, I’ve summarized some of the important bits for you:

Recouped cost of 75% or above
(more…)

Tags: cost vs value, huntsville home for sale, remodeling

 

 

Mike Manosky
Direct - (256) 508-0211
Toll Free - 800-803-0053
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