Top nine most cost effective improvements

Filed as: Updates 
Posted on: Monday, December 17th, 2007

At some point, a homeowner will look to improve their property.  Each year the National Association of Realtors conducts a survey which looks at the cost of 29 home improvement projects and how much of the cost is recouped in the resale of the property.  This is useful information for those individuals who are looking to improve their home and add value, and also those individuals who are purchasing property with the intent of fixing them up and reselling the property.

Below, I’ve listed the top nine cost effective improvements.  The numbers are an average for the Upper-Midwest states of Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota.  A quick look at the numbers confirms what the National Association of Realtors is saying, “of projects that saw national recovery rates of more than 80% in 2007, only one…was a strictly interior job.”  A similar trend developed for the Upper-Midwest states with only one of the top nine projects being an interior project.  Perhaps, the old adage about curb appeal being so important isn’t so far off target!

If you’d like to learn about the other projects or talk to one of our staff about preparing your property for sale, please feel free to contact us.  We look forward to working with you.  For the top nine, click on read more or scroll down!

  1. Upscale siding (fiber-cement) replacement
    Average Cost: $12,578
    Average Resale Value: $9,361
    Cost Recouped: 82.1%
  2. Midrange siding replacement
    Average Cost: $10,353
    Average Resale Value: $7,977
    Cost Recouped: 77.1%
  3. Midrange deck (wood) addition
    Average Cost: $10,546
    Average Resale Value: $7,928
    Cost Recouped: 75.2%
  4. Upscale siding (foam-backed vinyl) replacement
    Average Cost: $13,406
    Average Resale Value: $11,002
    Cost Recouped: 74.4%
  5. Midrange minor kitchen remodel
    Average Cost: $21,672
    Average Resale Value: $16,089
    Cost Recouped: 74.2%
  6. Upscale window (vinyl) replacement
    Average Cost: $14,306
    Average Resale Value: $10,525
    Cost Recouped: 73.6%
  7. Midrange window (vinyl) replacement
    Average Cost: $11,085
    Average Resale Value: $8,124
    Cost Recouped: 73.3%
  8. Midrange windows (wood) replacement
    Average Cost: $12,046
    Average Resale Value: $8,550
    Cost Recouped: 71.0%
  9. Upscale deck (composite) addition
    Average Cost: $15,368
    Average Resale Value: $10,822
    Cost Recouped: 70.4%