New ISoldMyHouse.Com Report Shows Home Improvements with Best Return on Investment
Boston, MA 5/21/2012 06:49 AM GMT (TransWorldNews)
ISoldMyHouse.com, a website for homeowners who want to sell their properties themselves, recently listed the home improvements that generate the best return on investment when a house is sold. The top five home improvements in terms of recouping investment after a sale are:
installation of vinyl siding
major bathroom remodeling projects
vinyl replacement window installation
major kitchen updates
remodeling of basements.
The full report can be found here: http://www.isoldmyhouse.com/fsbo/best-home-improvements.cfm
In an American real estate market that is emerging from a prolonged slump, homeowners are choosing home improvement projects with an eye toward recouping as much of their investment as possible when it's time to sell. Home improvements with the broadest appeal tend to have the best return on investment.
"In general, projects geared toward the homeowner's particular tastes, like the addition of a home music studio, have the least positive effect on asking price," says Owen Gilman, President of ISoldMyHouse.com Projects that most anyone can appreciate, such as a revamped bathroom, tend to boost sales price the most."
Homeowners can recoup up to 89% of the cost of installing vinyl siding when their house sells, or up to 85% of their investment with a major bathroom remodel or installation of vinyl replacement windows. Finishing a basement can result in regaining up to 79% of costs when a home sells. Other top projects in terms of return on investment include replacing an old roof and adding a new deck, which may have returns on investment of up to 75%.
Smaller home improvement projects that boost a home's appeal in a tough real estate market include installation of a steel front door, addition of native plants to landscaping, addition of weather stripping around windows and doors, and the installation of programmable thermostats. "Home improvement projects have become more popular in recent years as homeowners have retrenched to try to wait out the slow real estate market. Now, as the market begins to pick up again, they're finding that some of those improvements are paying off nicely," says Gilman.
ISoldMyHouse.com is a leading For Sale By Owner marketplace in the United States. Founded in 1997, the site offers a full range of services for both buyers and sellers to facilitate the sale of houses for sale by owners.
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