Remodeling Magazine every year conducts a study on the cost of remodeling vs. what percentage the homeowner gets in return when selling. The results of the 2007 Midwest report is startling in that three of the four of the projects that earned cost-recovery rates of more than 80% were for the homes’ exterior.  In fact, the only indoor remodeling project that had more than an 80% return was a minor kitchen remodel.

 

Here are the top 6 remodeling projects with the highest rate of return in the Midwest:

1.      Upscale siding replacement with fiber cement materials  -  88.1%

2.      Wood Deck Addition  -   85.4%

3.      Minor Kitchen Remodel  -  83%

4.      Midrange Wood Window Replacement  -  81.2%

5.      Upscale Vinyl Window Replacement  -  81%

6.      Bathroom Remodel (Mid-Range)  -  78.3%

 

Consider carefully before you remodel.  Know what your return on investment will be before you begin.  The best remodeling projects are undertaken by people who want to improve their own living environment.  The enjoyment that comes after the projects are completed may be immeasurable to your family.  But if you are considering a remodeling project because it’s time to put your home on the market then, take care to consider your monetary return.

 

How are your remodeling projects going out there?  Take a few minutes and drop me a note in the Comments section below or email me at Marie.Otis@cbshome.com.