Should Ann Arbor Home Owners Stay or Remodel?
Should Ann Arbor Home Owners Stay or Remodel?
2008 Cost vs. Value Report has answers
Many of my older Ann Arbor Seller clients have to remodel because the cost of downsizing is too great based on real estate taxes. Often we discuss the remodel project cost vs. the new home/condo purchase and weigh many factors. This report which has been published 11 years is a sound starting point.
According to the annual report conducted by Remodeling in cooperation with The National Association of Realtors® remodeling projects are holding their own.
Replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.
Top 10 Project Paybacks
1. Upscale fiber cement siding (86.7%)
2. Midrange wood deck (81.8%)
3. Midrange vinyl siding (80.7%)
4. Upscale foam-backed vinyl (80.4%)
5. Midrange minor kitchen remodel (79.5%)
6. Upscale vinyl window replacement (79.2%)
7. Midrange wood window replacement (77.7%)
8. Midrange vinyl window replacement (77.2%)
9. Upscale wood window replacement (76.5%)
10. Midrange major kitchen remodel (76.0%)
To see the complete reports with full project descriptions, as well as national, regional and local project data for the 79 cities covered, check out www.costvsvalue.com. If you are weighing your options and want a sounding board, let us help you talk about your options. Sometimes factors other than economics are more important. We are here to help you with all the information you may need regarding your Ann Arbor Real Estate choices.
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July 20th, 2009 at 7:56 AM
[...] a large bathroom, a basement, attached garage, guest parking, walk in closets as well as often a private deck and great landscaping in the yard. Pets are allowed and residents pay Ann Arbor taxes. Association monthly dues are [...]