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| Improvements to Increase Your Home's Value |
Over the past 30 years Remodeling magazine has compared the average cost of improvement projects with their value at resale, based on the experience of real estate professionals. The magazine's 2017 Cost vs. Value Report supports the generally held opinion that today's home buyers, while still enthusiastic about the bells and whistles, want to ensure their homes are structurally sound with all systems functioning efficiently.
Remodeling's projects include a basement remodel, an entry door that was replaced with 20 gauge steel and the addition of stone veneer. All of the 29 projects tracked returned an average of 64.3 cents per dollar spent.
Among the trends, replacement projects generally scored higher than remodeling projects; the ROI of replacement was 74% while that of remodels was 63.7%.
As in the previous year, adding loose fill
insulation to the attic returned 107.7% and was the only project on the list whose value exceeded its cost. Steel door replacement and addition of stone veneer also paid off at 90.7% and 89.4% respectively. Interestingly, these are among the most economical projects, alhough their costs were up from those of the previous year.
A basement remodel, providing it's done well--a high-end basement remodel was perceived as high value--returned 7.4% more than the same project last year, while a mid-range basement remodeling project only increased the home's value by 3.3% over the previous year.
These are just some ideas to consider when you're planning your next home improvement project. |
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| Wondering How Much Your Summit County Home Is Worth? |
How has the price of your home changed in today's market? How much are other homes in your neighborhood selling for?
If you're wondering what's happening to prices in your area, or you're thinking about selling your house, I'll be able to help.
Just give my office a call at 800-289-7005 or email me at kelli@kellisells.com for a professional evaluation.
I'll give you the honest facts about your home and its value. And I'll also give you the "inside scoop" on what's happening in the housing market in Breckenridge, Frisco, Silverthorne, Dillon and Keystone. |
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Kelli Bennett
RE/MAX Properties of the Summit
220 South Main Street
P.O. Box 4600
Breckenridge CO 80424
970-390-9311 Cell
800-289-7005 Office
970-453-7365 Fax |
| www.kellisells.com |
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| Breckenridge Events in April |
April 2 Chili Cookoff
April 5 Adult Coloring Night at Masonic Hall
April 8 Breckenridge Spring Beer Festival at Main Street Station
April 12 Ascent Series Race #5 at Peak 7
April 16 Easter Egg Hunt on the Mountain at Peaks 8 and 9
April 22 Imperial Challenge at Base of Peak 8
April 28 The Lion King Jr. at the Riverwalk Center |
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| Ask Kelli: This Month's Question |
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What is a CMA?
Here's a fact: you don't set the selling price of your home, the market does.
A comparative market analysis (CMA) takes the emotion out of deciding on the asking price. It's based on fact and helps determine how much you can sell your home for. A CMA looks at homes recently sold in your area: their selling prices, how long they were on the market and the difference between their selling and listing prices.
This analysis should be completed before you set your asking price. Depending on many factors, including the CMA, you may decide on an asking price within a $10,000 to $25,000 range of your home's value. I will be happy to provide a no-cost, no-obligation CMA to help you set a listing price for the most advantageous sale. |
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