MONROE COUNTY – Taking on a home remodeling project is more than choosing a new color for the walls. Homeowners should consider what projects protect their investment.
“Consider talking with a Realtor® when contemplating a remodeling project,” said Paulette Smith, President of the Pocono Mountains Association of REALTORS®. “Realtors® have invaluable insights into what sells a home. They visit hundreds of homes with buyers each year and have a unique understanding of what homebuyers value when they choose a home.”
According to the National Association of Realtors®’ 2015 Remodeling Cost vs. Value Report, Realtors® rated exterior replacement projects and smaller-scale improvements among the most valuable home improvement projects. “A majority of the top-10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects, like a steel-entry door replacement, or siding and window replacements,” Smith said.
The survey showed that top interior projects for resale value include a minor kitchen remodel and an attic bedroom. “These remodeling projects are expected to return more than 77 percent of costs when the home is sold,” she added.
The NAR’s Profile of Buyers’ Home Feature Preferences revealed that today’s buyers want air conditioning, walk-in closets and homes that are wired for Internet, cable and satellite TV. Features that buyers are willing to spend more money for are, a laundry room and a den/home office.
Preferences for home features vary in regions throughout the country. “In the northeast, homebuyers’ top preferences include hardwood floors and a home with a dining room,” Smith said.
The Pocono Mountains Association of REALTORS® is the voice for real estate in Monroe County.