People usually add on to stay put, points out Kerry Butler, owner of Butler Construction Services, a full-service remodeling company in Kelso, Wash. "They like the neighborhood, the school district. They've looked at newer, larger homes and decided to invest in the home they have and stay in the neighborhood."Real estate agents agree, rating this project a 94% recoup overall, with the recoup on additions in areas such as Washington, D.C. (177%), and San Francisco (126%) returning even more. More
Resale values for the 2001 Cost vs. Value Report were estimated by the following real estate professionals. More
Seen strictly from the standpoint of resale, carving a bathroom out of existing space, especially in a home that has only one or one and a half baths, might be the most productive remodeling project you can undertake. Even first time buyers, whose expectations may not be as high, "want a master bath and at least one more," she says. Include cultured-marble vanity top, molded sink, standard tub/shower with ceramic tile surround, low-profile toilet, general and spot lighting, mirrored medicine cabinet, linen storage, vinyl wallpaper, and ceramic tile floor. More
Depending on the product and the color, new siding can change the whole shell, the character of the house, as defined by the outside look, says San Antonio real estate agent Pat Clay. More
About one-third of the projects built by Ryan Schleper, owner of All City Builders, Buffalo, Minn., are basements. Schleper says clients want their basements finished for two reasons: They need space, and it's usually about a third of the cost of an addition, because mechanicals, foundation, and outside walls are already in place and no re-landscaping is required. More
Minneapolis remodeler Marty Schirber observes that potential home buyers often like some feature of a house simply because it's something they couldn't imagine building for themselves. One such example is a master suite, which Schirber calls "sanity space." More
As Minnesota remodeler Marty Schirber points out, a homeowner thinking of selling might solicit 10 bids from 10 roofing companies and go with the cheapest. More
This year's study offers two gut-and-replace kitchen remodels: a mid-range price project at $43,213 and an upscale kitchen -- same size, different components -- at $70,368. The price difference in specing granite vs. other types of materials for countertops, for example, may be $5,000, Dawn points out, but "it can make a $20,000 difference in the asking price, because of the perception about the quality of the home." More
Bob McCay, owner of McCay Building Company, Birmingham, Ala., says prospective home buyers with experience -- that is, those who've already bought and sold homes -- notice windows. In this year's Cost vs. Value Report, an upscale window replacement project -- with a national average of $15,502 installed -- yields a slightly higher return -- 77% -- than replacement windows at a mid-range price point, with a national average of $9,424. More
