Ron's Blog Conroe/Woodlands/Lake Conroe

The Joint Center for Housing Studies at Harvard University in its' recently released quarterly LIRA (Leading Indicator for Remodeling Activity) report predicts that homeowner remodeling activity will continue to fall through the remainder of 2008 at an annual rate of about 4.8%. When I read this I thought okay what if I am going to buck the trend and remodel or renovate my home for future sale. Where is the best place to put my money in order to recover my investment? What are the six best home renovation improvements I can make? After doing some research here is what the experts say.
1 - The number one improvement you can make is replacing or improving your siding. Curb appeal. Exactly what we realtors preach. That first impression....you only get one chance at it. Unless you have an all brick home replace what siding is there. Take at look at your soffits, porch ceiling and the second floor exterior walls. What shape are those in? PLEASE if you have a brick masonry home DO NOT paint the brick. Nothing in my opinion looks worse than painted brick. In five years it is going to look like badly painted brick. There are ways to restore brick and make it look great again. Estimates of your cost recovery rate on this improvement are about 88%.
2 - Build a deck. You gain living and entertainment space with this improvement. Remember to keep it proportional with your back yard. A future buyer may have small kids and want that swing set in there somewhere. Your cost recovery rate on this improvement can be about 80%.
3 - Spruce up your kitchen. Fresh paint, new drawer and cabinet handles do not cost that much. Think about a new cook top. A friend of mine just bought a new electric one for under $1,000. All of these improvements can be relatively inexpensive. Please avoid the gaudy wallpaper borders. Remember you are fixing the kitchen up for the next buyer. Cost recovery for this area of your home can be about 80%.
4 - Replace your windows with energy-efficient windows. The future buyers of your home will not only look at the home itself but will also take into consideration the cost of living in that home. Buying good windows can lower your utility bills and improve the value and salability of your home. Please make sure you look for the proper certification of your new windows. You do not want to just buy any old window. Your cost recovery rate here can be about 80% plus lower utility bills.
5 - Finally the bathroom. This is where you put on your best outfits. Do you want to do that in a dirty dingy room? Of course not. Take a look around at your faucets, showerhead, paint, countertops, toilet and bathtub. Most of those items are not that expensive. If you are going to replace that faucet please remember to turn off the water supply first. You will probably recoup about 78% of your investment in this area.
6 - Adding crown molding to almost any room will really dress it up. This is really a simple and inexpensive improvement. Almost any DIY'er can undertake this project. Remember I said almost not all DIY'ers. This simple fix can add elegance to almost any room.
Please remember to plan carefully when deciding on which projects to undertake. Almost any realtor will be more than happy to discuss with you what improvements will help your home sell. Just remember that the realtor you check with should be the one to get the listing.
Why don't you start a project for Mother's Day?
I hope you have a great weekend!
Ron