Why Did We Wait to Remodel?
My house looks great! Better than it’s looked in years! All we need now is one good buyer.
One day, will this be you? Someone who does all the fixing up so it’s gorgeous just in time to fetch a good price and then move out for someone else to enjoy it?
According to the Remodeling 2014 Cost vs. Value Report for Los Angeles mid-range homes, the value of improvements may now exceed their cost, or almost pay for themselves. Examples of projects with the best return on investment include:
* Minor Kitchen Remodel 101.7%
* Window Replacement (wood)100.7%
* Window Replacement (vinyl) 94.6%
* Deck Addition (wood)101.9%
* Bathroom Remodel 97%
The report also reveals what negatively impacts a home’s value. Here are some top offenses.
* Faulty Systems (HVAC, Electrical, Plumbing) and Structure: up to 20% of repaired value
* Lack of Updates up to 10%
* Bad Floor Plan up to 25%
* Poor Curb Appeal 5-10%
* Un-remediated Mold High risk; some estimates range from 17-23%.
There are plenty of people who live, complacently, with outdated and worn…it goes unnoticed so easily.
Love being in your home in your space. Why deprive yourself of the comfort and enjoyment it can bring? And, whenever it’s time to move on, a house that’s been taken care of will bring a much higher price. Buyers don’t worry about what might be lurking in hidden places when a house has obviously been taken good care of.