Did you know that replacing siding, windows and doors can recoup up to 70% of their cost at resale?
According to the 2013 Remodeling Cost Vs. Value Report, spending money on exterior improvements will give you the biggest bang for your buck when you go to sell. Why? Exterior improvements can help with energy efficiency. In addition, don't neglect the importance of curb appeal to potential buyers. Remember, the outside of your house is the first thing a buyer will see.
You don't have to go crazy. Take a look below. This house desperately NEEDED new siding, replacement windows, a new front window and a new front door. Making this improvement did not necessarily raise the value of this home in a market of decreasing value (as we had last year). However, it certainly helped the house maintain its value and would make it far easier to sell. In this market, it could make it move very quickly! Attracting more buyers means getting more offers on the table.
In this case, the homeowner did the following, for the cost of about $20,000.00, through a licensed home improvement contractor.
According to the 2013 Remodeling Cost Vs. Value Report, spending money on exterior improvements will give you the biggest bang for your buck when you go to sell. Why? Exterior improvements can help with energy efficiency. In addition, don't neglect the importance of curb appeal to potential buyers. Remember, the outside of your house is the first thing a buyer will see.
You don't have to go crazy. Take a look below. This house desperately NEEDED new siding, replacement windows, a new front window and a new front door. Making this improvement did not necessarily raise the value of this home in a market of decreasing value (as we had last year). However, it certainly helped the house maintain its value and would make it far easier to sell. In this market, it could make it move very quickly! Attracting more buyers means getting more offers on the table.
In this case, the homeowner did the following, for the cost of about $20,000.00, through a licensed home improvement contractor.
- New premium vinyl siding (go to a reputable manufacturer- don't get the cheap stuff)
- Replacement vinyl windows and front Anderson Window
- New front fiberglass, maintenance free door
- Seamless, capped gutters
- New garage door
- New shutters
Voila!!!! See below.
If you are a buyer, these are the types of improvements you can make with an FHA 203K renovation loan! This is ONE mortgage loan which covers the cost of the purchase price plus improvements. So, a buyer could purchase the 'before' house at a discount, transfer title to their name, and then have money left over after closing to make the improvements themselves.
Take the time to select a buyers agent or a listing agent who is aware of these options. Doing so can open up possibilities if you are buying and attract more buyers if you are selling!
Annmarie Cristiani, Sales Associate
REMAX Traditions Real Estate, NJ
www.househunter99.com or Google me
https://www.facebook.com/nothernnjrealestate
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