Best Home Improvement Projects Revealed
Below is a MRR and PLR article in category Health Fitness -> subcategory Beauty.
Top Home Improvement Projects to Boost Value
Overview
The 2007 "Cost vs. Value" Report from Remodeling magazine highlights the best home improvement projects to enhance your property's value.
Key Findings
Exterior Upgrades Lead the Way
- Top Projects: Upscale siding replacement using fiber cement, wood deck addition, and midrange vinyl siding replacement.
- Interior Highlight: Minor kitchen remodels offer the greatest value nationwide.
Regional Insights
- Houston & West South Central Region: Recovery rates are about 6% higher than the national average, with slightly different best-value projects.
Overall Recovery Stats
The survey by the National Association of Realtors and Specpan, involving nearly 3,000 responses, shows a decline in construction cost recovery due to a sluggish housing market and rising remodeling expenses. Even so, over 60% of projects completed in 2007 are expected to recoup 65% to 80% of their costs at resale. Thus, homeowners typically spend only 20 to 35 cents per dollar on renovations.
Lower-Value Projects
Projects with less return include home office remodels, mid-range sunroom additions, backup generators, and garage additions.
Location-Specific Considerations
Recovery rates differ by location:
- Constant Regions: Mid-Atlantic and New England show stable returns year-over-year.
- Higher Returns: California, Oregon, and Washington exceed the national average by over 10%.
- Lower Returns: The Southeast and Southwest, amidst a building boom, fall below the national average as buyers prefer new homes over renovated ones.
Houston Highlights
In Houston and nearby areas, the report identifies the top and lowest value renovation projects:
Top Projects & Returns
- Fiber-cement siding replacement: 93%
- Bathroom remodel: 91%
- Minor kitchen remodel: 88%
- Basement remodel: 87%
- Wood deck addition: 86%
Lowest Value Projects
- Sunroom addition: 59%
- Home office remodel: 64%
- Backup generator installation: 68%
- Roofing replacement: 69%
- Garage addition: 71%
Conclusion
As the US housing market continues to fluctuate, staying informed about factors affecting home value is crucial. Like investing in stocks, evaluating your situation and goals is essential before undertaking home renovations. For more information, visit [Houston Properties](http://www.houstonproperties.com).
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