Oct 13 2007
Skimp vs. Splurge
The National Association of Realtors recently surveyed 2,530 homebuyers to find out what buyers would pay for the following upgrades to a home. This is what they found:
~ 57% of homebuyers would pay $1,900 more for hardwood floors
~56% would pay $1,660 more for high-end kitchen appliances
~56% would pay $1,670 more for granite or similar countertops
~46% would pay $1,220 more for a fireplace
For homeowners who want to create an exceptional or upscale look for a home’s modest interior, something as simple as painting can have a huge impact. Moulding and other trim also creates a contrast and bold lines that will open up a room.
Home industry experts say that the most popular remodeling projects today are kitchens and baths. These features always seem to top the list because they usually bring the greatest return on investment when it’s time to sell.
“Remodeling Rule of Thumb” - Remodeling investment should not raise the value of your house to more than 10-15% above the median sales price in your neighborhood. After all, it doesn’t pay to be the most expensive house on the block!
For more information on remodeling tips and whether to skimp or splurge on upgrades in your home, please contact me anytime at ehagerty@prucar.com.
