Home Renovations And Selling

Dated: 05/02/2017

Views: 130

Home Improvements are done for many reasons. A lot of us do them to make that "house" we bought a "home", we do them to make a property more functional and sometimes we do renovations solely to increase the value of our house. If you choose to do them because you want to increase the value of your home, do you know which ones will give you the most "bang for your buck" and which ones are better left undone?

Most of us don't know that information so lucky for us Remodeling Magazine did an in depth study and gave us the answers. In the Albuquerque Metro area the "renovation" that had the highest cost/value ratio is replacing the entry door. The cost of the project is approximately $1141 and the resale value is $1412. That is a 123% recoup in your cost!

The next renovation that gives a very good return on the money invested is a MINOR kitchen remodel. This includes updating cabinet fronts only, hardware, replacement of cooktop and oven, replacing laminate countertops, upgrading sink and faucet, repainting walls and replacing flooring. This will cost approximately $17,992 and the return would be $15,115 which is an 84% recoup.

Remember, on average you are only going to recoup 2/3 of what you spend on any home project so choose wisely.

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Regina McKinney

Regina McKinney is dual licensed, meaning she holds real estate licenses in both New Mexico and Arizona and she actively works in both markets. She is an "outside-the-box" thinker with her finger on t....

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