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If you spend $8,000 on minor remodeling of your kitchen, how much of that can you expect to recapture when you sell your house? According to REALTOR® Magazine, Nov. issue and a joint research project with Remodeling magazine, in the Fort Worth/Dallas area you can recapture 153% or $12,240. For a major kitchen remodeling of $22,030 you will realize $28,358, or 129%. The percentages are highest in this area than anywhere else in the country. For instance this research says in Houston only 80% can be recaptured in added resale value and the average over the entire country is 87%. Adding a bathroom can bring 105% of the cost of the addition to your sales price, remodeling an existing bathroom 102%. If you add a family room at the cost of $29,451, you can expect it to bring $28,333 additional value to your house or 96% of the cost of remodeling. Adding a second story adds 81% of the cost of the remodel to your home value. These are averages, not guarantees and other factors may influence your prices. As you can see, kitchens and bathrooms help sell houses, and
investing in updating them makes good sense moneywise before
you consider selling. My personal theory is that it is a good
idea to update whenever you can and enjoy the new look yourself
for a while even before you sell. If you want a copy of the whole
article from which I am getting this information, call me. Also,
if you would like for me to come see your home and give you my
opinion of what remodeling will help in selling your home in
the future, I will be glad to. |