Santa Clarita Real Estate Update
The Return on Investment for your Home Improvement
May, 2011 - Issue #79
One of the best things you can do as a homeowner is to invest in quality home improvements. Not only will the additions make your home more attractive and pleasant to live in, but certain projects will bring a significant return on investment when the time comes to sell your home. The following five projects have been proven to add extra dollars to the average home resell prices. The statistics are courtesy of Remodeling Magazine.
(Note: ROI stands for "return on investment.")

Minor Kitchen Remodeling
Average Cost $8,655
Average ROI 88 percent

A minor kitchen remodel usually includes replacing the cabinets and countertops with higher-quality materials or increasing the total amount of cabinet storage and countertop surface area. It would also most likely include the addition or upgrade of appliances such as garbage disposals, built-in microwaves, dishwashers and higher-quality refrigerators.

Bathroom Remodel
Average Cost $9,135
Average ROI 81 percent

This project would include things such as installing attractive countertops like stone, granite or marble. The fixtures would need to be upgraded and the shower and bathtubs should be resurfaced. Also, any tiling would need to be grouted. Other things that could increase the value of a bathroom remodel would be adding an extra sink basin, converting a bathtub to a Jacuzzi or installing additional showerheads.

Major Kitchen Remodel
Average Cost $31,090
Average ROI 71 percent

The major kitchen remodel is very costly and will take much more work than the minor remodel. The major version will require all appliances to be replaced. Whenever possible, appliances should be finished in stainless steel. The countertops should be made of stone or granite. The floors might be replaced with high-quality stone tile or hardwood flooring. The addition of a kitchen island or a centrally-located stove could work. For a major kitchen remodel, you should consult a contractor and possibly an interior designer. This is definitely not a do-it-yourself project.

Outside Deck
Average Cost $8,022
Average ROI 55 percent

The deck is self-explanatory. Typically, the larger the deck, the higher the return on investment will be. The deck should obviously be coated with a nice-looking finish that matches the outside of your home and needs to be treated with a high-quality water seal.

Hardwood Flooring
Average Cost varies
Average ROI varies

The cost and return on hardwood flooring varies greatly based upon the total amount of rooms and surface area that is remodeled. Also, the choice in the variety of hardwood will impact the value. Certain woods - like oak and cherry - are more valuable than others. Also, it is very important to properly maintain your hardwood floors. Flooring that is scraped, scratched, dull or water stained can actually decrease the value of your home.
Joshua Suess is with The Suess Home Selling Team at Re/Max 702-4640
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