2010-11 Real Estate Trends
Below you will find the home remodeling projects that bring the greatest cost recovered at resale based on a recent national study. Are you planning on a small remodel of your house in 2011 in the Traverse City, Grand Traverse, or Leelanau County area? Are you a home owner who is thinking about selling in a couple of years? A recent study indicates that the projects that will net you the greatest return on your costs are all about first impressions! Below you will find the national averages on each project.
PROJECT 1: Entry Door Replacement (Steel)
Cost $1,218
Resale value $1,243
Cost recouped 102.1%
National averages
PROJECT 2: Garage Door Replacement
Cost $1,291
Resale value $1,083
Cost recouped 83.9%
National averages
PROJECT 3: Siding Replacement
(Fiber Cement)
Cost $13,382
Resale value $10,707
Cost recouped 80.0%
National averages
PROJECT 4: Kitchen Remodel (Minor)
Cost $21,695
Resale value $15,790
Cost recouped 72.8%
National averages
PROJECT 5: Deck Addition (Wood)
Cost $10,973
Resale value $7,986
Cost recouped 72.8%
National averages
For the full article and additional information please visit the following link:
http://www.realtor.org/rmohome_and_design/articles/2011/1101_costvsvalue
Oltersdorf Realty, LLC
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Email: RealEstate@Oltersdorf.com
(231)271-7777