Upgrades to consider before Selling your Home

     Looking to sell your San Diego home? What sort of repairs or upgrades are worth considering? According to this year’s Cost vs. Value Report, real estate professionals ranked exterior improvement projects as the clear winners. They not only won buyers over, but provided sellers with the most return on investment.
     The best rule of thumb when it comes to home improvement is “curb appeal.” When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.

     A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.

This is the 15th year that Remodeling magazine — in cooperation with REALTOR® Magazine. Exterior projects dominated the list with six of the top 10 most cost-effective midrange projects and eight of the top 10 upscale projects.ine — has released the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.

Because this is a national survey, many of the items listed below aren’t popular here in San Diego (fiber-cement siding, for example). Note that most of the items listed are focused on the outside of the home.

Top 10 Midrange Projects

1. Entry Door Replacement (steel) 
Job Cost: $1,137
Resale Value: $974
Cost Recouped: 85.6 percent

2. Deck Addition (wood)
Job Cost: $9,327
Resale Value: $7,213
Cost Recouped: 77.3 percent

3. Garage Door Replacement 
Job Cost: $1,496
Resale Value: $1,132
Cost Recouped: 75.7 percent

4. Minor Kitchen Remodel 
Job Cost: $18,527
Resale Value: $13,977
Cost Recouped: 75.4 percent

5. Window Replacement (wood)
Job Cost: $10,708
Resale Value: $7,852
Cost Recouped: 73.3 percent

(tie) 6. Attic Bedroom Addition 
Job Cost: $47,919
Resale Value: $34,916
Cost Recouped: 72.9 percent

(tie) 6. Siding Replacement (vinyl) 
Job Cost: $11,192
Resale Value: $8,154
Cost Recouped: 72.9 percent

7. Window Replacement (vinyl)
Job Cost: $9,770
Resale Value: $6,961
Cost Recouped: 71.2 percent

8. Basement Remodel 
Job Cost: $61,303
Resale Value: $43,095
Cost Recouped: 70.3 percent

9. Major Kitchen Remodel 
Job Cost: $53,931
Resale Value: $37,139
Cost Recouped: 68.9 percent

10. Deck Addition (composite) 
Job Cost: $15,084
Resale Value: $10,184
Cost Recouped: 67.5 percent

Top 10 Upscale Projects

1. Siding Replacement (fiber-cement)
Job Cost: $13,083
Resale Value: $10,379
Cost Recouped: 79.3 percent

2. Garage Door Replacement
Job Cost: $2,720
Resale Value: $2,046
Cost Recouped: 75.2 percent

3. Siding Replacement (foam-backed vinyl)
Job Cost: $13,818
Resale Value: $9,926
Cost Recouped: 71.8 percent

4. Window Replacement (vinyl)
Job Cost: $13,055
Resale Value: $9,295
Cost Recouped: 71.2 percent

5. Window Replacement (wood)
Job Cost: $16,361
Resale Value: $11,194
Cost Recouped: 68.4 percent

6. Grand Entrance (fiberglass)
Job Cost: $7,088
Resale Value: $4,528
Cost Recouped: 63.9 percent

7. Deck Addition (composite)
Job Cost: $34,403
Resale Value: $20,532
Cost Recouped: 59.7 percent

8. Major Kitchen Remodel
Job Cost: $107,406
Resale Value: $64,113
Cost Recouped: 59.7 percent

9. Bathroom Remodel
Job Cost: $50,007
Resale Value: $29,162
Cost Recouped: 58.3 percent

10. Roofing Replacement
Job Cost: $33,880
Resale Value: $19,194
Cost Recouped: 56.7 percent

*Source: Remodeling Magazine

For more information on this topic:

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Ryan@RyanYourRealtor.com
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  6. […] area of confusion for appraisals and upgrades has to do with how they are weighed in new homes versus older homes. In newer homes, the full value […]

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