The trend is towards updating rather than extravagant remodels from the looks of the new 2011/2012 Cost vs. Value Report from Remodeling Magazine. The report measures how much 35 common home improvements cost compared to how much they will re-coup when a home is sold. The top pay-offs (between 70% and 78% of their cost) come from replacing siding, adding a new garage or new entry door. Other remodels with similar pay offs include a minor kitchen remodel and adding a bedroom and bath to an existing attic space.
The worst performers in terms of resale value include adding a sun room (45.9%), adding a back-up power generator (47.5%) and remodeling a home office (42.9%).
A sluggish housing market continues to push down remodeling return on investment. Since its peak in 2005 at 86.7%, the overall average cost-value ratio has dropped 29 points to 57.7%
Click here to see the full report.
hot on elephant
A letter to the Anger that refuses to Leave Me. 74 shares A Relationship will only be as Good as the Sex. 10,094 shares The Most Powerful Moon of the Year: New Moon & Solar Eclipse in Pisces. 31,512 shares Welcome to Pisces Season: A Love there is no Coming Back From. 12,608 shares How Women ruin Good Men. 3,651 shares If You have to “Think About It,” then I’m Not the One for You. 4,016 shares What Rumi had to Say about Unhappy Love. 225 shares Not sure I thought I’d ever say this, but Ashton Kutcher is about to inspire you to tears. 2,239 shares A Cure for our Single Status. 514 shares How we can go to Heaven without Dragging Others with Us. 111 shares