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 HOME>Seller's
Centre>Helpful Articles>Preparing Your Home
For Sale
PREPARING YOUR HOME FOR SALE
|
Minor kitchen remodel |
104% |
Bathroom |
95% |
Major kitchen remodel |
94% |
Family room addition |
85% |
Bathroom remodel |
85% |
Master suite conversion |
83% |
Attic bedroom conversion |
81% |
Exterior remodel |
75% |
Deck addition |
78% |
Sun space addition |
70% |
Home office addition |
59% |
Kitchen remodelling can really pay off!
In
planning your remodelling project, just remember that the above figures
may not apply to your particular job. Don't go overboard with gold plated
faucets if you expect to recoup 98% of the cost of your new bathroom.
Conversely, don't expect a yield as high as 98% if you install a fiberglass
tub surround and the least expensive fixtures you can find. Family rooms
and home office projects in basements are far less appealing than those
built above ground.
The most common improvement that actually detracts from a property's marketability and value is a swimming pool. Many potential buyers look at a pool and see nothing but expense of upkeep and danger to small children. In fact, some buyers who would otherwise love your home won't even look at a property with a pool. Their reaction: "It would cost too much to fill it in and landscape the area!"
When you get ready to sell your home, be realistic about the desirability of the improvements you have made. Sometimes a minor face lift is all that is needed for increased marketability and a faster sale, but not necessarily a higher price. If you are in doubt, have a professional appraisal done or consult your REALTORŪ for an informed opinion.
Source: Remodeling Magazine's Cost vs.
Value Report
National Association of Remodeling Industry.
©2002-2003
Mark Lummis. Any reproduction of this site is prohibited.
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