Building Value in your Home
For most of us, our homes are the largest single investment we’ll ever make. And many of us have lists of home improvements that we are working on or would like to do. Some are simple things we can do ourselves, while others often require a bigger investment and professional help to complete.
While livability is a primary criterion for these projects, we also want to be sure that money spent adds value. So when it comes to enhancing our investment, how do we know which projects will generate the greatest return? A recent report from the Texas Association of REALTORS® revealed some interesting information on remodeling project recoup costs.
Overall, home remodeling projects in Texas grew increasingly profitable last year, with smaller, functional remodeling projects having the best record of adding value.
On the front, you’ll find trends for the West South Central region, and below are examples of interesting findings from cities within the Texas Triangle.
Austin–Most profitable: Wood deck additions (111.9%). Least profitable: Sunroom additions (61.3%).
Dallas–Most profitable: Midrange bathroom (98.1%). Least profitable: Home office remodeling projects (53.8%).
Houston–Most profitable: Steel entry door replacements (105.5%). Least profitable: Wood deck additions (75.7%).
San Antonio–Most profitable: Upscale garage door replacements (109%). Least profitable: Backup power generators (52.1%).
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