If you are looking for ways to improve your Chevy Chase home value without breaking the bank, the latest Cost vs. Value Report has done the math for you. The report finds that home exterior projects provide some of the best return for the dollar!
Here is an example of the projects and pay backs for the greater DC Metro area!
Quality Counts When Upgrading Your Chevy Chase Home
Materials matter! The report finds that quality materials have a better return for exterior projects:
- Replacing an entry door with a steel entry door will return 85.6% of your costs. Replacing an entry door with a fiberglass door will return 65.9% of your costs.
- If you update the siding on your home, using fiber-cement siding will return 79.3% of your costs. Using vinyl siding will return 72.9% of your costs.
- Building a deck adds value to your home, but building a wooden deck pays you back a little better. Wood decks return 77.3% of your money; composite decks only return 67.5% of your investment.
- Garage doors return an average of 75.7% of your costs.
Interior Remodeling Tips for Chevy Chase and Bethesda
While curb appeal projects account for the lion’s share of recovery on investment, there are interior areas that also provide a good return. The key is to do quality, yet moderate remodeling that does not lead to excessive outlay. Going overboard – and possibly broke – is the biggest mistake. Update your home, but don’t re-invent it!
- Kitchens provide the best return for the money. A moderate remodeling job, running $20,000, will give a return of 75.4%.
- Remodeling a basement to create living area can vary widely in cost, but the return averages 70.3%.
- Adding an attic bedroom returns about 72.9% of your costs.
- Adding another bathroom yields a surprisingly low return of 54.8%. This one might be arguable, depending on the number of bathrooms your home initially had! A four-bedroom, one-bath home could see a good return with a second bath.
When considering remodeling projects for homes in Chevy Chase, Bethesda, and the surrounding D.C. area , it’s a good idea to talk to me first and obtain an estimate of your current market value. If you are selling your home in the near future, having an estimate of your net proceeds could determine if remodeling for value makes sense.
I’m happy to share these tips with you! Whenever you need the expert assistance of a Chevy Chase real estate professional, I will be here to help! Whether you are buying or selling a home, turn to me for the professional guidance you can trust. My experience with the Chevy Chase real estate market and my commitment to service will give you the advantage!
Contact me today for help with all of your real estate questions!