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If
you've tried to hire someone to help with a remodeling project lately, you
already know about waiting lists. Home improvements have become a national
pastime.
Getting the house in tip-top shape is its own reward
for many homeowners. That extra room, state-of-the-art kitchen,
modernized bathroom or new deck for enjoying the outdoors can add
pleasure to life.
Some people embark on a home improvement campaign to
make their homes more attractive before they put them on the market.
They tell themselves, "We'll recover the costs when we
sell." Maybe not.
If the improvements make your home the most expensive
in the neighborhood, you probably won't recoup the price. Still, on
average you can expect to get much of your investment back at the
closing table, especially if you choose improvements that most
influence buyers, enhancements that are in demand in today's
marketplace.
According to Remodeling Magazine, the project that
yields the best return is upgrading the kitchen. The magazine
estimates that a redo -- which included new cabinet doors, oven and
cook top, laminate counters, sinks, faucets, new flooring and paint --
would return its entire cost and a little extra for your trouble,
about 102 percent.
The second most cost-effective project is adding a
bathroom, about a 92 percent return on your investment.
A few more examples are master suite addition, 87
percent; family room, 86 percent; bathroom remodeling, 77 percent;
home-office, 69 percent; and replacing windows, 68 percent. Prices may
vary depending on your location.
Lynda and Mike Morgan are Realtors with Arvida Realty
Services and regular contributors to the Pinecrest Tribune. For more
information, please call 305-235-3411, or send email to mmorgan321@aol.com.
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