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Home Improvements – Which Ones Really Pay Off?

If you are planning on improving your home in Pensacola and you are wondering what home improvements will give you the most bang for your buck, a report was issued that can give you some ideas where best to spend your home improvement dollars. If you plan to put your Pensacola Home for sale any time soon, this will be a worthwhile read.

You can read the report and see the numbers in the Cost Vs Value section of this Home Improvement site. What is most important to note is  that the obvious winners in this market test were exterior beautifications. What you can see, touch and feel is what gives the biggest cost recuperation.  The report shows that the addition of a wood deck or vinyl siding are the improvements that have the largest return in value. But note that no improvements will return all of the money you put into them in short term resale value.

If you plan to sell your home soon, you will want to focus on the visible improvements. Extra insulation in the attic is great, but the buyers can’t see that and there is no emotional impact. Anything that beautifies the home will have that added punch of emotion. Your potential buyers need to feel good about the house. Try landcaping or vinyl siding to improve the property.

Now if you plan to live in the house for another 10-20 years, it may be more worthwhile for you to focus on “non-visible” type improvements, such as attic insulation or a new A/C unit or hot water heater. These types of improvments add value and savings in reduced energy costs. However, they generally do not WOW the buyer and have an emotional impact. One addition that I really like are new windows. New windows not only impress potential buyers, but they also save energy, and can save help you save on insurance costs in hurricane risk areas.

So if you want to add value to your home, take a look at the report and make your own judgments as to what upgrades would be in your best interest.  I was surprised to see that they did not list fireplace upgrades. That was always on the lists as a top improvement in resale value. The estimated cost recuperation on new windows is around 80%

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    […] just sent out its annual cost vs. value issue. You can see this information at http://www.costvsvalue.com. Karl at Pensacola Real Estate News and Jamie at Davis Real Estate blog give an overview of the report and how it relates to their […]

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