Improvements? Worth the Cost?

Some remodeling projects will add to the value your home, but some won't. For example, on kitchen remodeling projects and bathroom additions you can get back up to 90 percent or more of the cost.

However, finishing a basement usually pays back less than 50 percent of the money you've invested.

Home Advisor at MSN.com has a chart of costs and average paybacks for typical home improvement projects. For example, adding a new heating or air conditioning system can cost between $2,000 to $4,500 with an average payback of 100% for heating; 75% for air conditioning.

Whereas building a pool can cost $10,000 and up with an average payback of 44%. Not too mention costly upkeep!

The local real estate market and current property values are what determine if your remodeling project will increase the value of your home. If the market is slow, you'll see less of a payback than you would in a fast market. Also, if you remodel your house until it's twice as big as the other homes on the block, it won't necessarily double in value.

The price of home improvements fluctuates depending on economic conditions. If remodeling costs are particularly high, or home sale prices particularly low, you may not recover as much of your investment as you would if costs were proportionate with sales prices.

Remember, painting can be a wonderful upgrade and often gives new life to your home at minimal cost.

Below are some web sites you might find useful if you are thinking about making home improvements:

· Improve Net gives design ideas and helps you plan your project.

· Michigan State University Extension offers an online encyclopedia of topics related to home maintenance.

· The Federal Trade Commission has warnings and advice on how to find a contractor.

· The Department of Housing and Urban Development offers tips on obtaining financing.

You can call me any time, to talk about which projects will pay off best when you decide to sell your Beaufort home.

Marine 1 Realtors are available to help you, call or email us today.