If you’re looking for a home remodeling project that will add value to your Alexandria, Fairfax, Manassas or Arlington, VA, home, think kitchen, attic bedroom, deck. Do your research for your region first. Often, it depends where in the country you live that determines what is the best asset for you.
For interior projects in the Washington, DC area for mid-range homes, the kitchen ranks high on the list. The return on investment for a minor kitchen remodel is about 85 percent in this region, according to Remodeling Magazine’s Cost vs. Value Report 2011-2012. That’s higher than the 2011 national average of 72.1 percent. What’s a minor remodel? Replacing cabinet faces, appliances, countertops and flooring — what might be major to you is really considered a minor project.
Consider why the kitchen remodel is so well accepted by buyers. The kitchen is the gathering place in the home. It’s a fact that most home purchase decisions are made by women. Where do they look first? The kitchen. You can sell a house on the “wow” factor of the kitchen.
Attic bedrooms were the only area that grew from last year in ROI. In local mid-range homes, the return was 89 percent, vs. a 2011 national average of 75 percent. Remodeling Magazine attributes the popularity of this particular remodeling effort to the fact that it is the most cost-effective way to add a bedroom and a bathroom (frequently creating a large master bedroom suite) within the home’s existing footprint.
Finally, how about a deck? Adding a wood deck was among the highest cost returns for outdoor remodeling projects at 91.3 percent. A composite material deck returned 78.8 percent of the cost. Much of the most valuable remodels were in siding replacement, window and door replacement, and anything that improved curb appeal for the home. Sensible — if the house doesn’t look good from the outside, you’ll never get inside to see that new kitchen remodel.