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Tuesday, March 5, 2013

Highest Return on Home Improvements

Thinking of doing some improvements to your home? If you're thinking of selling your home in the near or maybe distant future you may be wondering what's the best use of your money.

 Real Estate Agents rated improvements on the exterior of your home the best use of your money with the highest return on your investment.

 You've heard of location,location, location.....well this is true however think curb appeal, curb appeal, curb appeal! When thinking of selling your home it's all about creating an inviting exterior, making an investment in enhancing the curb appeal. Since this is the first thing buyers see before they'll even decide to go inside of the home it's imperative to impress them from the get go.

 Some of the most simple and least costly exterior improvements can recoup more than 70% of the cost it did to make them upon selling your home. The improvement that had the lowest return was remodeling a home office which was less than 44%.

 The 2013 National average cost-to-value ratio rose 60.6% which put an end to a 6 year decline. California was one of the top 5 states leading the way in this improvement with an average cost-to-value ratio of 71.2% due to our strong resale values.

Here's a look at the top 5 cost-value ratios for improvements in California specifically Los Angeles real estate:

  • Entry Door Replacement: recouping 85.6%

  • Deck Addition: recouping 77.3%

  • Garage Door Replacement: recouping 75.7%

  • Window Replacement: recouping 73.3%

  • Siding Replacement: recouping 72.9%


All my best,

Amanda

1 comment:

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