Should You Remodel?
The National Association of Realtors' 2009 Cost vs. Value Report reports the average nationwide return on investment of major remodeling projects:
- Deck addition -- 80.6%
- Major kitchen remodeling -- 72.1%
- Bathroom remodeling -- 71.0%
- New roof -- 60.5%
- Family room addition -- 65.3%
- Master suite addition -- 65.2%
More advice, from PBS's Hometime series:
- Keep the tastes and needs of future owners in mind. Remodeling magazine does an annual report evaluating the return on investment for a variety of home improvements.
- Figure out what the Beavercreek market will bear. Compare the appraised value of your Beavercreek house as it is with the price of houses in your immediate area that already have the improvements you're thinking of making. If you can do the project with the budget of that difference, it's worth thinking about.
- Evaluate the cost of remodeling versus the cost of moving elsewhere in Beavercreek: How much would a new mortgage be, compared to a cash-out refinance or an equity loan? Factor in both interest rates and fees. What are the costs of moving versus the costs of living through remodeling your Beavercreek house? What about the cost of a new house with the features you want? Some people find remodeling cheaper than what they have than to buy or build something comparable.
What About Closets?
Installing high quality closets is one of the best things you can do to improve the resale value of your home, since everyone seems to want more storage! It is also something that you can immediately start using, and thus improve the quality of your home life. Consider California Closets Beavercreek for your home remodeling needs.