Submitted By: Clark Tilley, Realtor - Stone Oak Office
I love the New Year and the thought of making all of those great resolutions. As one person put it, “Many people look forward to the new year for a new start on old habits”. Although my resolutions typically focus on diet and exercise, many people are resolving to freshen up their home. Is it time to consider some updates, needed repairs, or a total remodel? Is it worth the investment? What if we are thinking of selling in the coming months? All of these legitimate questions can be addressed, and in many cases there is ample data available to guide you in your home projects. Every year, through a study conducted by Remodeling magazine, the cost vs. value analysis of specific remodel projects is published. The 2006 results, reported by geographic region, are interesting. In San Antonio, for every dollar spent on a kitchen remodel, you can expect to recoup 82.7% in additional resale value of your home. A master bath re-do will recoup 82% of the cost. Need to replace old siding?? Go with cement fiber. It had the highest return rate reported at 88%. Even something as boring as replacing a roof can return over 80% in our region. These numbers sound pretty good to me. You can enjoy a fresh new look to your home and get back more than 80 cents in resale value for every dollar invested in your project. Thinking of selling soon?? Don’t start that project yet! An experienced Realtor may be able to assist with some money saving ideas. From my experience, many times people spend much more than necessary when preparing a home for sale. A kitchen may only need new countertops instead of an entire remodel. Simple updates, fresh paint, new landscaping, and other inexpensive touches can return great “bang for the buck”. Before you call the contractor, call your favorite Realtor® for their analysis and opinion.
