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 this link.
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Project
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Amount You Recoup at Sale
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Average Cost
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| 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
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Get at least three written estimates.
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Get references and call to check on the work. If possible, go by and visit earlier jobs.
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Check with the local Chamber of Commerce or Better Business Bureau for complaints.
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Be sure that the contract states exactly what is to be done and how change orders will be handled.
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Make as small a downpayment as possible so you won’t lose a lot if the contractor fails to complete the job.
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Be sure that the contractor has the necessary permits, licenses, and insurance.
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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.
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Ask if the contractor’s workers will do the entire job or whether subcontractors will do parts.
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Get the contractor to indemnify you if work does not meet any local building codes or regulations.
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Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
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Guarantee that materials used meet your specifications.
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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 / All rights reserved.
