I recently read an interesting article from Forbes magazine—“Ten Best Home Renovations for the Money.” (There’s also a “Ten Worst” list for those who are interested.) The article used Remodeling Magazine’s annual Cost vs. Value Report to gauge just how much of their investment homeowners can recoup on various home improvements.
As you might expect, most renovation projects will not “pay for themselves”—meaning that homeowners generally will not recoup all of the money they spend on home improvements if they later sell their home. Some projects are just “plain dollar drains,” according to the article, and shouldn’t be undertaken for the sole purpose of increasing a home’s value.
The article recommends that homeowners who are going to shell out money on improvements should focus on the home's exterior because it offers more decent returns on investment. For instance, both vinyl replacement windows and vinyl siding were shown to recoup 72% of their cost upon resale.
Any homeowners who ars considering a home-improvement project might want to check out this best/worst list before jumping into a renovation—to ensure they’re undertaking renovations like windows or siding that provide amuch better value. The article is available at http://tinyurl.com/4rw95qd
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