William Raveis Real Estate and Home Services

Did you know that some projects return more value if you are selling your property than other improvements?

Did you know that some projects bring more happiness (Joy) than others, in the opinions of consumers.

Here is data put together by the National Association of Realtors that gives you some guidelines. As your local expert, however, I can meet or speak with your personally to share those improvements that might be unique to the Cape Cod real estate market in terms of appeal to buyers

2015 remodeling impact report-
 
For a link to the full report produced by the National Association of Realtors Research Department , don't miss viewing this entire document at (downloadable PDF format if you wish to save it on your computer):

http://www.realtor.org/reports/remodeling-impact

Highlights

Many Americans would find remodeling too overwhelming to attempt. 35% said they would rather move than remodel. If YOU are one of those property owners that would prefer to move, go to this link on my site for an instant property valuation and I will set appointment to meet with you to discuss best 'improvements' to help your house sell faster and for more money!

http://www.onestophomes.com/sellers/what-s-my-home-worth/

What is a "Joy score"? Taking on projects is often very worth the investment and time. After remodeling, owners experience a greater desire to be in their home, or increased enjoyment while there. Many also feel satisifed when their see their completed project with a typical Joy Score 9.4 (on a scale of 1-10). Even more owners feel a major sense of accopmplishment when they think of their completed project.

Here are some of the projects identified and explained ENJOY!

When consumers remodel, it is usually to upgrade worn-out surfaces, finishes, and materials (38 percent); to add features and improve livability (17 Percent); and because it is time for a change (13 percent).

The report covers both interior and exterior home improvement projects. This report provides a cost recovery estimate. Actual cost of each project and cost recovery are influenced by many factors including project design, quality of materials, location, age and condition of the home and homeowner preferences.

Projects: INTERIOR

Complete kitchen renovation

JOY score: 9.8

NARI remodelerís cost estimate: $60,000
Realtors estimated cost recovered in selling home: $40,000
67% value recovered

Kitchen upgrade:

JOY score: 9.4

NARI remodelerís cost estimate: $30,000
Realtors estimated cost recovered in selling home: $20,000
67% value recovered

New Master suite:

JOY score 9.7

NARI remodelerís cost estimate: $112,500
Realtors estimated cost recovered in selling home: $60,000
53% value recovered

Bathroom renovation:

JOY score 9.3

NARI remodelerís cost estimate: $26,000
Realtors estimated cost recovered in selling home: $15,000
58% value recovered

Add a new Bathroom:

JOY score 10

NARI remodelerís cost estimate: $50,000
Realtors estimated cost recovered in selling home: $26,000
52% value recovered

Insulation upgrade:

JOY score 8.7

NARI remodelerís cost estimate: $2,100
Realtors estimated cost recovered in selling home: $2,000
95% value recovered

New wood flooring:

JOY score 9.5

NARI remodelerís cost estimate: $5,500
Realtors estimated cost recovered in selling home: $5,000
91% value recovered

Hardwood flooring refinish:

JOY score 9.6

NARI remodelerís cost estimate: $2,500
Realtors estimated cost recovered in selling home: $2,500
100% value recovered

Projects: EXTERIOR

New Roofing:

JOY score 9.6

NARI remodelerís cost estimate: $7,600
Realtors estimated cost recovered in selling home: $8,000
105% value recovered

New vinyl Windows:

JOY score 9.4

NARI remodelerís cost estimate: $15,000
Realtors estimated cost recovered in selling home: $12,000
80% value recovered

New wood windows:

JOY score 9.4

NARI remodelerís cost estimate: $26,000
Realtors estimated cost recovered in selling home: $15,000
58% value recovered

There are more projects in the report, as well as explanation of the research and source of data, so view the entire report at:

http://www.realtor.org/reports/remodeling-impact