INSTANT GRATIFICATION: Cost, Conservation, and Curb Appeal
"Replacement and repair jobs appeal because they cost less and help a home hold value."
Want to improve your house in a way that would pay for itself should you choose to sell your home? Install a midrange entry door. “It’s a low priced product that provides instant gratification” says Keith Dmytryck, the owner of Innovation Construction Co. “For that $850.00 to $2,000.00 investment; you change the look of the front of the house and add curb appeal.”
You also save energy and recoup that investment should you decide to sell. That said, all agree that it’s a different market today. Existing home sales are fewer: 7.07 million sold in 2005, 4.13 million in 2010. Falling home values mean that improvements are more carefully considered. Purchasers are a lot more need driven.
Replacement projects are most definitely need-driven and, in addition to accomplishing necessary maintenance or energy-saving enhancements, these projects have consistently yielded the best returns for home owners. Most professionally completed improvements provide years of durable aesthetic enjoyment to the home owners. Midrange replacement and remodeling projects are especially popular for their relative affordability combined with impressive cost/value considerations – detailed in a recent, extensively researched cost-to-value review on Marketwire, the nation's premier regional and market-driven home improvement research organization.
For high impact appeal in the vital kitchen area, a spot upgrade to a focal point like the kitchen backsplash area can work aesthetic wonders with a good market return.
Door and window replacements are top choices by folks who are mainly interested in comfort and energy savings. And the energy savings can be considerable, but have a better cost/value if you plan to stay in your home a few years. For resale considerations, Shane Shuckman of Renewal by Andersen/Phoenix, uses his city's real estate market as an example – reporting that, although Phoenix was one of the nation's hottest housing markets during the boom years, the resale value new windows added to a home wasn't usually at the top of the discussion list among RE sales people. More frequently, new windows are described as another way to market the home if and when it does come up for sale.
That doesn’t mean that homeowners do not take replacement into account if they’re thinking about moving – sometimes they have little choice
This year's cost recouped numbers – generally lower – reflect a changed attitude toward the home as an investment. When prices rapidly advanced, improvements often came close to paying for themselves in resale. More often Keith is seeing homeowners considering improvements with a view towards putting the home up for sale, and saying “Will we get our investment back?” when the real question is “Will we move this house for what we want?”
The monies spent on professional roofing, siding and windows are always taken note of on inspection reports and RE salesmen’s appraisal listing reports.
Whatever repairs, replacements, or other work you have done to your home, it's essential to contract with a licensed professional who has the expertise to do the job right, the integrity to back up his claims, and the ratings and references to assure you of the quality work your home deserves.
Chuckle of the Week
The trouble with owning a home is that no matter where you sit, you're looking at something you should be doing.