Wilmington, NC home builder Mark Johnson Custom Homes would like to share with our readers an article courtesy of RealtyTimes.com regarding cost-effective projects for your home.

Buyers are hit hard by first impressions, and sellers take advantage of this fact, aiming to amp up their curb appeal.

This is, after all, where they get the most bang for their buck. According to the latest Remodeling Cost vs. Value Report, the National Association of REALTORS® (NAR) reports that “nine of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects.” These exterior projects are outperforming their remodeling counterparts.

Interior projects should not be forgotten, however. These spaces earn returns on costs, as well. Many times interior updates can make you stand out from the competition in your area. It is simply that in today’s economy, “remodeling projects, particularly higher cost upscale projects, have been losing resale value in recent years because of weak economic conditions.” (NAR)

With curb appeal projects, however, a little money can go a long way. Topping the list? Steel entry doors are returning 102.1 percent of their cost upon resale.

What other projects are sellers tackling? While most projects don’t bring the profit returns of steel entry doors, sellers have some other great options for attracting buyers.

  • Siding and window replacements – 70 or more percent of costs recouped
  • Midrange garage door replacement – 83.9 percent of costs recouped
  • Upscale fiber-cement siding replacement – 80 percent of cost recouped
  • Wood deck additions – 72.8 percent of costs recouped

“It’s important to remember that the resale value of a particular improvement project depends on several factors,” says National Association of Realtors® President Ron Phipps. “Things such as the home’s overall condition, availability and condition of surrounding properties, location and the regional economic climate contribute to an estimated resale value.”

Yet, says Phipps, “Curb appeal remains king – it’s the first thing potential buyers notice when looking for a home, and it also demonstrates pride of ownership.”

Article Written By: Carla Hill, RealtyTimes.com

South Atlantic — Midrange

2009-10 National Averages

Job Cost

Resale Value

Cost Recouped

Project

Job Cost

Resale Value

Cost Recouped

$43,540

$39,171

90.0%

Attic Bedroom

$49,346

$40,992

83.1%

$13,215

$7,909

59.9%

Backup Power Generator

$14,304

$8,428

58.9%

$55,337

$46,707

84.4%

Basement Remodel

$62,067

$46,825

75.4%

$34,876

$21,692

62.2%

Bathroom Addition

$39,046

$23,233

59.5%

$14,784

$10,630

71.9%

Bathroom Remodel

$16,142

$11,454

71.0%

$14,598

$10,389

71.2%

Deck Addition (composite)

$15,373

$10,904

70.9%

$9,505

$7,589

79.8%

Deck Addition (wood)

$10,634

$8,573

80.6%

$3,286

$2,217

67.5%

Entry Door Replacement (fiberglass)

$3,490

$2,275

65.2%

$1,065

$1,562

146.8%

Entry Door Replacement (steel)

$1,172

$1,470

128.9%

$73,736

$50,632

68.7%

Family Room Addition

$82,756

$54,051

65.3%

$53,307

$35,132

65.9%

Garage Addition

$58,432

$36,361

62.2%

$26,794

$12,754

47.6%

Home Office Remodel

$28,375

$13,648

48.1%

$53,900

$40,199

74.6%

Major Kitchen Remodel

$57,215

$41,260

72.1%

$92,606

$63,341

68.4%

Master Suite Addition

$103,696

$67,578

65.2%

$20,504

$15,923

77.7%

Minor Kitchen Remodel

$21,411

$16,773

78.3%

$16,775

$12,042

71.8%

Roofing Replacement

$19,731

$13,133

66.6%

$9,562

$7,698

80.5%

Siding Replacement (vinyl)

$10,607

$8,476

79.9%

$68,362

$37,805

55.3%

Sunroom Addition

$73,167

$37,118

50.7%

$140,210

$102,908

73.4%

Two-Story Addition

$156,309

$107,286

68.6%

$9,705

$7,417

76.4%

Window Replacement (vinyl)

$10,728

$8,217

76.6%

$10,627

$8,332

78.4%

Window Replacement (wood)

$11,700

$9,044

77.3%

Information Courtesy of: Remodeling.hw.net

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One Response to “Curb Appeal Projects Remain Cost-Effective”

  1. Calgary Window Replacement Says:

    Hello..
    The facts you shared in the post related to the home project is new to me. I was not aware about it. I must say that one should always choose the best designs for the home as it have to remain for long.