It feels like spring is in the air here in St Augustine Florida, even though it is just the beginning 
of February. Home Depot is busier than ever with residents starting their Spring projects early this year. Homeowners should estimate the potential change in the value of their real estate versus the cost of specific changes before performing any work. Some upgrades are more advantageous than others in elevating a home’s value. Below is information on St Augustine Florida home repairs that increase home values.
Recommendations on St Augustine Florida Home Repairs That Increase Home Values
Home owners often hope to regain the entire amount of money spent on repairs when they go to sell their property. This is a natural tendency, but unfortunately, it is not supported by what is seen in the marketplace. Different home repairs add different value to a property, and that increased value can vary in different parts of the country. To give you an overview on home repairs that increase home values, below are some national figures.
National Averages for Mid-range Renovations
The figures below are from Remodeling Magazine’s annual Cost vs. Value Report.
|
IMPROVEMENT |
COST |
RESALE VALUE |
AMOUNT OF COST ACHIEVED |
|
ROOF REPLACEMENT |
21,204 |
12,257 |
57.8% |
|
GARAGE ADDITION |
57,824 |
33,089 |
57.2% |
|
BATHROOM ADDITION |
40,096 |
20,455 |
51% |
|
MAJOR KITCHEN REMODEL |
57,494 |
37,785 |
65.7% |
|
ENTRY DOOR REPLACEMENT |
3,536 |
1,990 |
56.3% |
Analyzing Home Repairs That Increase Home Values
Another factor contributing to the value of repairs is whether it is a mid-range or up-scale renovation. Kitchen repairs, for example, can be performed on the low end or the high end and each will lead to a different figure. So, not only should you consider the type of repair but also the amount of money to spend. For a broad list of property repairs, a comparison of mid-range versus high-end projects, and detailed current St Augustine Florida home repairs that increase home values, visit www.costversusvalue.com.
Attend the St Augustine Repeat your Wedding Vows event held February 12, 2012 at Ripley’s Belive it or Not Museum. Repeat your wedding vows Feb. 12 and help Ripley’s break another World Record.
Feb. 12 at 2pm. Ripley’s Believe it or Not! Museum in St. Augustine, Fl will attempt to host the world’s largest wedding vow renewal ceremony. Ripley is looking for couples who would like to participate in this special activity, just two days prior to St. Valentine’s Day. Check-in will begin at noon Feb. 12th. Couples need to bring proof of their existing marriage and a photo ID to present at check-in. To register, email the name of the bride and groom along with the state and date of the original wedding to mock@ripleys.com.
Be sure to attend the St Augustine Repeat your Wedding Vows February 12, 2012. Married couples…come help break a world record and make some history. Be a part of the Ripley’s Believe it or Not! hall of fame. If your are not married, visit Ripley’s on the 12th to witness this record breaking event. See you there!
St. Augustine and St. Johns County 24 Hr. Market Report for January 5, 2005 shows that there were 18 homes with price adjustments. It appears that the Sellers are understanding that even in the active St. Augustine real estate market, the correct list price is vitally important.
Nearly 25 homes were re-listed in the last 24 hours, catching up the large end of year expired listings.
St. Augustine, St. Johns County 24 Hr. Market Report for January 2, 2012 shows quite a few of the end of the year expired listings have been renewed. Which leads me to think that agents that were out listing new homes yesterday, forgot to renew their expiring December listings!
Not surprising at all that there were no closings during this 24 hour period as it was New Year's Day.
Who Said REALTORS Don't Work on Holidays? Certainly not here in St. Augustine, Florida! Here is a recap of the the St. Johns County Market Activity for the last 24 hours.
It looks like the end of the year expired homes continue. It will be interesting to see if we will see these homes re-listed in MLS starting tomorrow.
Happy New Year to one and all!
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