Saturday, December 09, 2006
HOME IMPROVEMENT COST RECOVERY
In todays market we are seeing home improvement cost continuing to rise, however the ability to recover these costs when selling a home is declining. This can mainly be attributed to the declining market activity.
Kitchen remodeling can cost on the average from $17000-$56000 with the recouped cost of 85-90%. For the bathroom the cost averages $12000 with the recouped cost of 87%. Other remodeling and repairs fall in the 80-90% range for recovery. Of course, a home in great disrepair with not command top dollar so you need to review what repairs or remodeling would be a prudent thing to do. Your sales agent can help with this by revewing other properties on the market that will be competing for the same buyers. The homes that are selling now are in great condition and very competitively priced.
Kitchen remodeling can cost on the average from $17000-$56000 with the recouped cost of 85-90%. For the bathroom the cost averages $12000 with the recouped cost of 87%. Other remodeling and repairs fall in the 80-90% range for recovery. Of course, a home in great disrepair with not command top dollar so you need to review what repairs or remodeling would be a prudent thing to do. Your sales agent can help with this by revewing other properties on the market that will be competing for the same buyers. The homes that are selling now are in great condition and very competitively priced.
