Curb Appeal Matters Most
When deciding which remodeling projects will get you the most bang for your buck and attract potential homebuyers, opt for the outside. According to the 2008 Remodeling Cost vs. Value Report, exterior remodeling projects return the most money as a percentage of cost.
On a national level, wood deck additions and all types of siding replacements returned more than 80 percent of costs upon resale. Window replacements also return a high percentage of remodeling costs.
Here is a breakdown of the percentage of project costs returned for major remodeling efforts:
Wood Decks - 81.8%
Siding Replacement - more than 80%
Window Replacements - more than 76%
Kitchens - 76%
Bathrooms - 74.4%
Attic-to-Bedroom Conversion - 73.6%
Basement Remodel - 72.7%
Back-Up Power Generators - 57.1%
Sunroom Additions - 56.6%
Home Office Remodels - 54.4%
Of course, the resale value depends on a variety of factors. Before you begin any remodeling project, whether it’s just a spruce-up or a major remodel, talk to local real estate agents and contractors to determine what is attracting homebuyers. The most important factor is to make sure the home is up to the standard of others in the neighborhood.