Where to spend your remodeling dollars—and projects to avoid
04/01/2014 | Author: Editorial Staff
If you're renovating a property to add value, the 2014 Texas Remodel Valuation Report shows you exactly where to spend your money. The report analyzed the project recoup costs and recoup cost growth in 2013 for over 20 different remodeling projects nationwide, in the south central U.S., and in Austin, Dallas, El Paso, Houston and San Antonio.
Smaller projects that boost a home’s curb appeal continued to be popular in most markets. Steel entry door replacements, for example, ranked No. 1 for total recoup cost nationwide, in the west south central U.S., and in Houston, recouping up to 105.5% of the total project cost. In addition, projects that increased a home’s livable square footage using existing spaces showed significantly higher recoup cost values and growth in 2013. Basement remodels ranked in the top five for recoup cost in four of the five major cities in Texas, recouping up to 99.6% of the total project cost.
Conversely, costly room additions and upscale remodeling projects were among the least profitable projects. Sunroom additions, for example, ranked in the bottom five for recoup cost in five Texas metro areas, recouping a maximum of 61.3% and as little as 38% of the total project cost.
The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.
While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.