Does it Pay to Remodel?

I just wanted to share some information that came out in this months Realtor Magazine. They do a yearly Cost vs Value report which give the cost and return of remodeling projects that you may want to do around your home.

It is broken down into regional averages. I will take W. South Central region which includes Texas. You can click on this link to view the report but I wanted to share with you the top 5 projects with the best return. (least to most)

Some of these may not apply (basement) but it is interesting nonetheless...

5. Attic Bedroom - Cost $48,421 - Resale Value $34,003 - Cost recouped 78.3%

4. Fiber Cement Siding - Cost $12,954 - Resale Value $10,713 - Cost recouped 82.7%

3. Basement - Cost $55,071 - Resale Value $46,406 - Cost recouped 84.3%

2. Garage door - Cost $1,145 - Resale Value $1,130 - Cost recouped 98.7%

1. Steel Entry Door - Cost $1,079 - Resale Value $1,259 - Cost recouped 116.6%

Just goes to show you that a little investment for that new front door goes a long way. The two biggest factors that affect your sale is "Price and Condition". It always helped to choose the best projects that will help your sale.