Top 10 Louisville Home Improvement Projects

Let's be honest. In this economy, money is tight. People are now being very creative in how to keep more money in their own pockets. Home improvement is one great way! Here at LouisvilleHomesBlog.com, we want to provide the very best in real estate information and advice so that you can make the decisions that best fit your situation. With that in mind, the National Association of Realtors publishes a Cost vs. Value Report every year. This is great stuff! What's even better is when you find data for our specific market. That's what we have and you've come to the right place.

The following home improvement projects are ordered by Cost Recouped. This data is also specific to the East South Central region where Louisville KY real estate is located. This region contains Tennessee, Mississippi and Alabama as well.

1. Siding Replacement - 91.5%

The average costs for foam-backed vinyl siding is $11,111 where the resale value increase is $10,165 for a cost recouped percentage of 91.5%. Fiber-cement siding is only slightly less at 90.2%, so it's also a good choice. Vinyl siding, without the foam backing came in much lower at only 84.6%.

2. Deck Addition - 85.2%

The average costs for adding a wood deck addition to a Louisville home is $8,903. This increases the resale value by $7,588 for a cost recouped percentage of 85.2%. Projects like these can also add a bit of "wow factor" for lower priced homes and could possibly be necessary for homes in more expensive neighborhoods where having a deck is expected. Using composite decking only returns a 71.7% for Louisville Kentucky.

3. Basement Remodel - 83.9%

The average costs for a mid-range basement remodel is $53,552 where the resale value increase is $44,924 for a cost recouped percentage of 83.9%. These numbers are considered average for our area so you can expect there is potential to spend much less or much more. In either case, remodeling an unfinished basement in Louisville is a very good investment, especially when you consider that the national average is only 72.9%.

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