Renovating Your Home Without Exceeding Neighborhood Value

Home Renovation

Before renovating your home, you should understand that not all renovations increase value. It is possible to over-remodel, and you don’t want it to exceed the value of your neighbors’ homes. Here are some ways to get the highest return on investment possible when the time comes to sell your home.

Always factor in your location.  Buyers tend to first select neighborhoods, based on their expectations of price and home features. If improvement your home beyond those around you, you will have difficulty getting the higher price.  Alternatively, if your home is lacking features typical in homes around you, it is important to add those improvements.

With that in mind, here are the findings of the 2015 Remodeling Cost Vs. Value report, stating the projects that deliver the highest return on investment:

•    Entry door replacement (steel): 101.8%
•    Garage door replacement: 88.4%
•    Siding replacement (fiber-cement): 84.3%
•    Siding replacement (vinyl): 80.7%
•    Deck addition (wood): 80.5%

Renovations that deliver the lowest percentage of return on investment are:

•    Sunroom addition: 48.5%
•    Home office remodel: 48.7%
•    Master suite addition: 53.7%
•    Garage addition: 54.7%
•    Bathroom addition: 57.8%

To better understand the best return on investment for your specific home, please contact Kyle at The Alfriend Group.

Kyle Alfriend
(614) 395-1776

(Updated: Oct 25, 2018)Blog Home

About The Alfriend Group

Kyle Alfriend has been selling and marketing homes for over 20 years, successfully selling and buying homes in a variety of market conditions. He has sold over 1,200 homes, totaling over $250 million in homes sales. In Dublin, he has sold more homes that anyone ever. He has represented the areas largest builders, built his own homes, and owns and manages several investment properties. He has been awarded the "Top 10 M.A.M.E. Award (Major Achievements in Marketing Excellence) by the building and Realtor associations every year since 1993. He believes that everyone deserves the very best in knowledge, experience, and integrity when buying or selling their home. The Alfriend Group was started 5 years ago as a real estate team of professionals, specializing in buying/selling homes, property management, and real estate investments. For more information, call us today at (614) 395-1776.

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