ROI on Home Improvements This Year

Each year, Remodeling Magazine gathers data from nearly 150 markets on the average cost for 21 of the most popular home improvement or remodeling projects. Along with the expenses, they tally the resale amounts of those home in 100 markets in the United States to compare the cost versus the resale value of those improvements.

Each year, as compiled in the Remodeling 2018 Cost vs. Value Report, the researchers share the mid-range and upscale trends from the prior year, and which gave the most return on investment (ROI) for the homeowner.

Here are the highlights from 2018

Top prize for ROI goes to the upscale garage door replacement with nearly 100 percent return for most regions. Other items appearing near the top of the list include mid-range steel entry-door replacements and adding a manufactured stone veneer to your exterior. Farther down the list are the usual suspects, with a minor kitchen remodel and wood deck addition (mid-range) in the lower eighties.

While updating a bath continues to be promoted as a big-seller with a mid-range remodel just over 70 percent, both a mid-range and major upscale kitchen remodels net just above half of the cost and as do bathroom additions in both categories.

View the charts at Remodeling to review region-specific information where the contenders resort according to the local region and city-specific data. Regional price differences in both materials and labor costs; and home sales pricing affect the percentages of return, so the top three or four may change positions in your region. 

The idea that a remodel or upgrade ROI never tops 100 percent may be shocking for home-sellers looking to recoup their expenditures. Remember, however, that what constitutes a dollar for dollar return does not factor in what can mean a higher return for you. If your remodeled bathroom or new artistic garage door speeds up the sale time so that you’re not trying to make two mortgage payments while you wait for a home to sell, your personal return is more valuable to you than just the selling price over remodeling cost. And, if you’ve lived in the house after the remodel and enjoyed its benefits personally, the ROI is incalculable by statistical standards.

If you plan to place your home on the market, review the Cost vs. Value Report for your region and city before undertaking significant additions or improvements. Then, consult a realtor specializing in your neighborhood to see what trends may improve the bottom line for your home.

Open house on 2/17/2019 at 9 Shawnee Rd Worcester, MA 01606


Date: 02/17/2019 Time: 1:00 PM to 2:30 PM  
For Directions: feel free to contact me.  
For more information: click here for the full details  

Showings start Sunday, Feb. 17, 1pm-2:30pm. Look no further for your next home! This younger colonial sits at the end of cul-de-sac and has easy access to the highways. This home features three bedrooms and two and a half baths. The master bedroom has a large walk-in closet and master bath. The living room is front to back with a slider out to the oversized deck. The kitchen if fully applianced and has a center island for convenience. There is a formal dining area, currently being used as a bedroom. The basement has plenty of storage and one car garage. Don’t miss out on your opportunity to move into the great neighborhood!

Single-Family – 9 Shawnee Rd Worcester, MA 01606 is now new to the market!

Showings start Sunday, Feb. 17, 1pm-2:30pm. Look no further for your next home! This younger colonial sits at the end of cul-de-sac and has easy access to the highways. This home features three bedrooms and two and a half baths. The master bedroom has a large walk-in closet and master bath. The living room is front to back with a slider out to the oversized deck. The kitchen if fully applianced and has a center island for convenience. There is a formal dining area, currently being used as a bedroom. The basement has plenty of storage and one car garage. Don’t miss out on your opportunity to move into the great neighborhood!

This is a Colonial style home and features 6 total rooms, 2 full baths, 1 half bath, 3 bedrooms, 0.21 Acres, and is currently available for $319,900.

For complete details click here.

Reasons to Revisit Your Homebuying Strategy

If you’ve conducted an in-depth search for your dream house but still have yet to find your ideal residence, there is no need to worry. In fact, you can revisit your homebuying strategy and revise it as needed. This will allow you to restart your house search and increase the likelihood that you’ll discover your dream home sooner rather than later.

Ultimately, there are many reasons to revisit your homebuying strategy, and these include:

1. You can consider why you’re searching for a house.

There are many reasons why an individual may choose to buy a home. By revisiting your homebuying strategy, you can think about why you want to purchase a house and proceed accordingly.

For example, if your initial goal was to buy a home near the top schools in a particular city or town, you may want to refocus your house search to achieve the optimal results. Or, if you now find that you’d prefer to own a house in a big city instead of a small town, you can update your house search.

2. You can evaluate your home must-haves and wants.

After attending open house events and home showings, your homebuying criteria may have changed. As such, now may be a good time to revisit your homebuying strategy so you can update these criteria.

Think about things you’ve liked and disliked as you’ve viewed various available houses. You can use your open house and home showing experiences to revamp your home must-haves and wants, and as a result, reenter the housing market with a fresh perspective.

3. You can review where you want to live.

As you’ve searched for homes, you may have found that houses in certain cities and towns are more appealing than other residences. Thus, you can revise your homebuying strategy to focus on residences in your preferred cities and towns. This will help you accelerate your house search and ensure you can find a home in a city or town where you want to live.

Of course, conducting a home search on your own often can be difficult. But if you hire a real estate agent, you can receive plenty of support throughout the homebuying journey.

A real estate agent understands exactly what it takes to find a great residence in any city or town. He or she can help you revamp your homebuying strategy and streamline your house search.

In addition, a real estate agent will set up home showings, keep you up to date about new houses that become available and help you navigate the homebuying cycle. Once you find your dream house, a real estate agent will make it easy to submit a competitive offer to purchase this residence. And if you ever have concerns or questions about purchasing a home, a real estate agent is ready to respond to them.

Revisit your homebuying strategy today, and you could move one step closer to finding and purchasing your ideal residence.