February 2007 Edition

Will Remodeling Pay Off?

Our kitchen needs remodeling, but we're not sure how much to spend. We don't want to lose money when we sell. How can we learn how far to go?
If you're concerned about the future value of your remodeling investment, consult a local real estate agent or home appraiser. Home values are highly variable depending on your neigh­borhood, the regional market and the condition of your home. These individuals will use these local variables to estimate the market value of your home and tell you what upgrades will deliver the best return.

Remodeling 1

Another useful source is the annual Cost vs. Value Report on the Remodeling Magazine Web site (www.remodelingmagazine.com), which presents both the national picture and the regional breakdown for 22 major remodel­ing categories (kitchens, bath­rooms, additions, windows, etc.). Generally it shows that bathroom and kitchen projects have strong paybacks (more than 90 percent), if kept in a mid-price range. The payback drops if the project includes major tear-outs or upscale cabinets, appliances and fixtures. Mid-range remodeling of "space expansion" areas like attics, basements and decks also scores above 90 percent payback. Additions, however, don't fare so well. Family rooms, master suites and sunrooms score only about 80 percent return. In general, "lifestyle" improvements such as swimming pools, spas and exer­cise rooms don't pay back verywell either. But siding replacement scored high (fiber cement was 88 percent and vinyl 83 percent).
Check the regional breakdowns for these cat­egories, however, because you'll find wide variations. For example, a major kitchen remodel in Phoenix returns about 99 percent, but the return in Burlington, Vermont, is only about 46 percent. The value of other homes on your block matters too. An expensive remodel won't deliver a high pay­back if it makes your home the most expensive one on the block. But a modest remodel that replaces an outdated kitchen, updates a grungy bathroom and upgrades a shabby exterior can payoff well.

Source: July/August 2006 The Family Handyman, http://www.familyhandyman.com/


Remodeling Magazine Cost vs. Value 2006 National Averages

PROJECT
JOB COST
% RECOUPED
MIDRANGE
 
 
Attic Bedroom Remodel
$44,073
79.9%
Attic Bedroom Remodel
$56,724
78.8%
Basement Remodel
$56,724
78.8%
Bathroom Addition
$28,918
74.9%
Bathroom Remodel
$12,918
84.9%
Deck Addition
$14,728
76.8%
Family Room Addition
$74,890
71.5%
Home Office Remodel
$20,057
63.4%
Major Kitchen Remodel
$54,241
80.4%
Master Suite Addition
$94,331
72.6%
Minor Kitchen Remodel
$17,928
85.2%
Roofing Replacement
$14,276
73.9%
Siding Replacement (vinyl)
$9,134
87.2%
Sunroom Addition
$49,551
66.3%
Two-Story Addition
$105,297
83.2%
Window Replacement (wood)
$11,040
85.3%
Window Replacement (vinyl)
$10,160
83.7%
 
 
 
UPSCALE
 
 
Bathroom Addition
$60,535
72.8%
Bathroom Remodel
$38,165
77.4%
Major Kitchen Remodel
$107,973
75.9%
Master Suite Addition
$176,268
72.7%
Roofing Replacement
$24,693
72.9%
Siding Replacement (fiber cement)
$13,149
88.0%
Siding Replacement (foam-backed vinyl)
$11,139
83.1%
Window Replacement (wood)
$16,910
82.5%
Window Replacement (vinyl)
$13,120
84.7%

Downloadable City Reports

 PDF files for each of the 60 cities surveyed in the 2006 Cost vs. Value Report are available for purchase and immediate download from http://costvalue.remodelingmagazine.com. A bound copy of the 2006 Cost vs. Value Report can also be ordered (delivery after January 1, 2007). The 88-page research report organizes the survey data in two ways: 25 pages of project data from 60 U.S. cities, one page per project; and 60 pages of city data for all 25 projects, one page per city. Also included is a table of national averages as well as tables for nine U.S. regions.

Source: www.remodelingmagazine.com


Spray Paint For Plastic?

Our plastic patio furniture is looking very stained. Is there a way to paint plastic?

Paint

Seems like everything is made of plastic these days, but not necessarily in a color you can live with. And until now, spray paint has never been a good option. The paint peels off in a short time, and the solvents in some spray paints will actually dissolve some types of plas­tic. Paint For Plastic from Rust-Oleum and Fusion from Krylon are spray paints designed specifically for plas­tic. So go ahead and repaint that ugly whatever. Expect to pay about $5 for either brand. Rust-Oleum products can be found at Home Depot stores, and the Krylon line at Sherwin-Williams stores.

Source: The Family Handyman


If you have a question, change of address, comment, home tip or would like to send Home Tips to your clients, send your letter to Home Tips, Christian Building Inspectors, Inc., 3697 Habersham Lane, Duluth, Georgia 30096. You can E-Mail your questions to us at rodharrison@christianbuildinginspectors.com. We reserve the right to edit questions for length.


Quote Of The Month

"What is success? I think it is a mixture of having a flair for the thing that you are doing; knowing that it is not enough, that you have got to have hard work and a certain sense of purpose.”

Margaret Thatcher


A Tip Of The Hat To:

Bill Mabrey

Sell for Less, Inc.

862 Crystal Water Court

Lawrenceville, Georgia 30045

**** Thank You****


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