Saturday, March 14, 2009

To Remodel or not to remodel?

Is it worth remodeling?

The 2008 Cost Vs. Value survey, conducted by Remodeling Magazine, reports that minor kitchen remodels give the greatest return on investment of the top 20 remodeling projects in the Phoenix metro area-- 88%. Although the house will have more curb appeal and may sell faster with a fresh exterior coat of paint, only 60% of the cost will be recouped.
The magazine also conducted a poll of its readers published last Nov. and found some interesting information:
* the three most important features buyers are interested in, are the roof, kitchen and mechanical systems.
* the number one reason people remodel is to meet a desire or need, not the return.
* Most people are not willing to buy a "fixer-upper", because they don't want to deal with the hassle of living through a major remodeling-- cost is not the biggest issue.

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