Remodeling Your Home:

According to Real Estate Wiki (www.realestatewiki.com) homeowners, especially during soft markets, must be careful not to make improvements on their properties, without making sure, they will recuperate that money and drive a higher price, when it comes time to sell.

From this perspective, it is worth for a homeowner to take a closer look at remodeling investments, and how much of a return you can really expect to get on them.

Should you pay for a kitchen overhaul, adding an island, granite countertops and stainless-steel appliances? Would it be more cost effective to paint the room and place new doors on the kitchen cabinets? Will a new deck raise the value of your home or simply be enjoyable while you live in the house?

Regarding the potential to recoup your investment, experts agree that the following statistics hold true in most areas of the United States, although they may slightly vary from state to state:

Ø       midrange bathroom replacement:  102.2%

Ø       exterior siding replacement:  103.6%

Ø       large kitchen remodeling project:  85% to 100%

Ø       moderate kitchen remodeling project:  98.5% to 100%

Ø       “luxury” items such as wine cellars or media rooms may represent a great value to some buyers and not be appreciated by others

Ø       pools have the potential to be considered liabilities by some buyers and are, therefore, not likely to result in a profitable investment 

Your potential return often depends on the regional market, the neighborhood and the characteristics of the individual home. S although remodeling generally is a wise investment, evaluate all your options before jumping in. For answers on many more home improvement and home ownership tips, visit Real Estate Wiki.