Crystal Coast, NC Home Owner's Manual

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HOME OWNER’S

H O M E IMPROVEMENT

MANUAL

56

Finding the Best Home Improvement Investments

ISLAND REVIEW/November 2009

General Maintenance is the best prevention.

Outer Island Accents is a full service

WHETHER IT’S TIME to sell the house, or it’s just time to make some improvements, it’s important to know which projects will be the best investments. You may really want to put a hot tub in the bathroom, or create an outdoor room, but will you recoup any of those costs when you sell the house? Where’s the smartest place to invest your hard-earned money? For the past 20 years, the National Association of Realtors and Remodeling magazine have produced the Cost vs. Value Report, a detailed analysis of 30 different home improvement projects that are key to raising a home’s resale value. The report shows how much the projects cost and what they typically recoup in value when a home is sold. The figures are adjusted by region as well as shown as a national average. The 2008 – 2009 Cost vs. Value Report indicates that while the average home price has fallen by a national average of seven percent, the value of homeowners’ remodeling investments has declined less than four percent. As the housing market has slowed, there are fewer upscale projects being done. Instead, the focus is on curb appeal projects. In comparing the national averages, replacement projects that boost curb appeal – siding, windows, and decks – give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level. The Cost vs. Value report assumes paying the full price for labor. So if you can do any part of a project, you could save costs and, therefore, get more of your money back. Here are the top 10 projects and how much they Just how much is possible to recoup depends on several factors, such as typically pay back. the value of the homes in your neighborhood, the nature of the project, 1. Upscale fiber cement siding - 86.7 percent when you try to sell the home, as well as the condition of the overall 2. Midrange wood deck - 81.8 percent housing market. 3. Midrange vinyl siding - 80.7 percent 4. Upscale foam-backed vinyl - 80.4 percent Before investing in one of these curb appeal projects, however, make sure 5. Midrange minor kitchen remodel - 79.5 percent that the basic structural and mechanical systems of your home are in good 6. Upscale vinyl window replacement - 79.2 percent shape first. If you replace the windows but have a leaky basement, you’ll 7. Midrange wood window replacement - 77.7 percent have a problem selling the house and getting any of your money back. 8. Midrange vinyl window replacement - 77.2 percent 9. Upscale wood window replacement - 76.5 percent 10. Midrange major kitchen remodel - 76.0 percent

Prevent Future Repairs with a Professional Paint Job.

Courtesy of Family Features

painting contractor that specializes in high quality interior and exterior house painting and waterproofing. Having 9 years experience behind them, this company is well known for its quality of work and service.

Book your home now to avoid the 2010 Spring Rush! Interior/Exterior • References Available • Fully Insured Serving Emerald Isle, Atlantic Beach, Morehead City, New Bern, Jacksonville, Swansboro, Pine Knoll Shores, Cape Carteret, Beaufort and Harkers Island..

252.504.1001 | 1.877.788.1051

www.outerislandaccents.com ISLAND REVIEW/November 2009

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