Upgrading your home is always appealing, but which enhancements really get you a good return for your money when it’s time to sell? A 2002 survey by Remodeling Magazine and REALTOR® Magazine has the answer. To see the complete article, visit http://www.realtor.org/rmomag.nsf/pages/costvaluedec02
|Project||Amount You Recoup at Sale||Average Cost|
|Bathroom remodeling||91 percent||$22,639|
|Basement remodeling||79 percent||$33,911|
|Master suite addition||77 percent||$131,471|
|Bathroom addition||81 percent||$37,639|
|Family room addition||79 percent||$41,514|
|Roof replacement||67 percent||$7,644|
|Siding replacement||79 percent||$5,622|
|Window replacement||77 percent||$15,502|
Twelve Tips for Hiring a Remodeling Contractor
- Get at least three written estimates
- Get references and call to check on the work. If possible, go by and visit earlier jobs.
- Check with the local Chamber of Commerce or Better Business Bureau for complaints.
- Be sure that the contract states exactly what is to be done and how change orders will be handled.
- Make as small a downpayment as possible so you won’t lose a lot if the contractor fails to complete the job.
- Be sure that the contractor has the necessary permits, licenses, and insurance.
- Be sure that the contract states when the work will be completed and what recourse you have if it isn’t. Also remember that in many instances you can cancel a contract within three business days of signing it.
- Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.
- Get the contractor to indemnify you if work does not meet any local building codes or regulations.
- Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
- Guarantee that materials used meet your specifications.
- Don’t make the final payment until you’re satisfied with the work.
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2003. All rights reserved.
Courtesy of Metro Realty., REALTOR®