Item Expected life (years)
Central A/C 15+
Window A/C 10
A/C compressor 15
Forced-air furnace 15
Gas or oil furnace 18
Gas water heater 11 to 13
Electric water heater 14
Microwave ovens 11
Electric ranges 17
Gas ranges 19
Gas ovens 14
Exhaust fans 20
Refrigerators 17
Freezers 16
Dishwashers 10
Disposal 10
Trash compactors 10
Clothes washers 13
Dryers 14
Source: National Association of Home Builders
Saturday, September 29, 2007
Tuesday, September 18, 2007
Which Improvements Payback?
COST VS VALUE REPORT
According to the Cost vs. Value Report*, replacing your vinyl siding is the least expensive way to add value and increase the selling price for your home. Replacing wood windows and performing a minor kitchen remodel ($17,000 or less) tie for second place on the list of high-impact home improvements to help you sell. The third most profitable home improvement to add value to your home is a bathroom makeover ($12,000 or less).
Project Job Cost Resale Value Average
Vinyl Siding Replacement $9,134 $7,963 87.2%
Window Replacement (Wood) $11,040 $9,416 85.3%
Minor Kitchen Remodel $17,928 $15,278 85.2%
Bathroom Remodel $12,918 $10,970 84.9%
Window Replacement (Vinyl) $13,120 $11,109 84.7%
Two-Story Addition $105,297 $87,654 83.2%
Major Kitchen Remodel $54,241 $43,603 80.4%
Attic Bedroom Remodel $44,073 $35,228 79.9%
Basement Remodel $56,724 $44,685 78.8%
Deck Addition $14,728 $11,307 76.8%
Know Your Neighborhood
Before you decide which home improvement project adds the most house value, do a little competitive research by finding out what features are popular with other homes in your neighborhood. If most houses in your neighborhood are about 15 to 20 years old but have upgraded kitchens with contemporary countertops, tile flooring, and stainless steel appliances, you’ll net a better return if you invest in a minor kitchen remodel. By knowing your neighborhood, you’ll get a better sense of what projects are the best home improvement values for your dollar.
Know Your Region of the Country
Not only should know your neighborhood but you should also know your region. Consider a remodeled basement which, nationally, offers 78.8% ROI; widely popular with buyers in some parts of the country (in the Pacific, it nets a 92.7% ROI), remodeled basements are not as popular in other parts of the country (in
New England, its ROI is only 61.9%). To help you sell now, know what buyers in your area prefer.
According to the Cost vs. Value Report, each part of the country has unique home improvement values.
ROI=Return On Investment
Source Realtor Magazine
According to the Cost vs. Value Report*, replacing your vinyl siding is the least expensive way to add value and increase the selling price for your home. Replacing wood windows and performing a minor kitchen remodel ($17,000 or less) tie for second place on the list of high-impact home improvements to help you sell. The third most profitable home improvement to add value to your home is a bathroom makeover ($12,000 or less).
Project Job Cost Resale Value Average
Vinyl Siding Replacement $9,134 $7,963 87.2%
Window Replacement (Wood) $11,040 $9,416 85.3%
Minor Kitchen Remodel $17,928 $15,278 85.2%
Bathroom Remodel $12,918 $10,970 84.9%
Window Replacement (Vinyl) $13,120 $11,109 84.7%
Two-Story Addition $105,297 $87,654 83.2%
Major Kitchen Remodel $54,241 $43,603 80.4%
Attic Bedroom Remodel $44,073 $35,228 79.9%
Basement Remodel $56,724 $44,685 78.8%
Deck Addition $14,728 $11,307 76.8%
Know Your Neighborhood
Before you decide which home improvement project adds the most house value, do a little competitive research by finding out what features are popular with other homes in your neighborhood. If most houses in your neighborhood are about 15 to 20 years old but have upgraded kitchens with contemporary countertops, tile flooring, and stainless steel appliances, you’ll net a better return if you invest in a minor kitchen remodel. By knowing your neighborhood, you’ll get a better sense of what projects are the best home improvement values for your dollar.
Know Your Region of the Country
Not only should know your neighborhood but you should also know your region. Consider a remodeled basement which, nationally, offers 78.8% ROI; widely popular with buyers in some parts of the country (in the Pacific, it nets a 92.7% ROI), remodeled basements are not as popular in other parts of the country (in
New England, its ROI is only 61.9%). To help you sell now, know what buyers in your area prefer.
According to the Cost vs. Value Report, each part of the country has unique home improvement values.
ROI=Return On Investment
Source Realtor Magazine
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