Major remodeling of rooms may get you less bang for your buck

By By Amy Hoak
MARKETWATCH
Sunday, January 13, 2008

CHICAGO — Homeowners interested in getting the biggest bang for their remodeling buck might want to shelve the idea of full-blown room remodeling and opt for more practical replacement projects that reduce home-maintenance needs, increase energy efficiency or improve curb appeal, according to a recent report.

Remodeling magazine’s annual Cost vs. Value Report found late last year that seven out of the top 11 projects that paid off the most at resale were replacement projects, said Sal Alfano, editorial director for the magazine. That includes window and siding replacements.

Also, minor remodeling is paying off more than expansive room improvements, according to the 2007 report. Construction costs for common remodeling projects were compared against the share of those costs recovered at resale, with projects broken down into “midrange” and “upscale” categories.

National, regional and city data can be viewed at the magazine’s Web site, www.costvsvalue.com.  >>> Click for full article

Tags: marketing, money, sellers, staging //