Grand Rapids Michigan Cost vs Value Home Improvement
Report 2010
The new Cost vs Value Report 2010 is out from the National Association
of Realtors. This report compares home improvement costs and returns for
sellers all over the country. There are national trends and local trends.
If you are a homeowner, this is valuable information because it will tell you
how much money you can expect to recoup from home improvements on
the sale of your home.
While you may not be intending to sell your home for many years,
it is a good indicator of what the average buyer is looking for in a home
purchase and what they are willing to pay for in home updates. As a
home owner, it is prudent to know your home's value and not over
improve your home in relation to it's current value.
Grand Rapids is right on target with the rest of the nation in the number
one item that repays investment. A new front door, specifically, a steel door
will get you 102% of your money back. If you need a new front entrance door,
you might want to consider skipping over to your home improvement store
and putting one on order.
Now, don’t get crazy and pick a really fancy door if you live in a basic ranch.
Home buyers don’t want a front door that doesn’t match the home
style or decor, so don’t waste your money. A nice steel door in a great color will
do more for your home’s curb appeal than one that doesn’t fit aesthetically.
All other home improvement projects went down in payback dollars, not
a surprise considering our local rate of home sales in the past 2 years. But if
you have been considering a home improvement project, check the list to see
if it is a feasible option for you and your home.
____________________________________________
