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Posts Tagged ‘cost to value’

Is now the time to take advantage of bargain basement existing home prices?

Written by Mike Foti on . Posted in Bathroom Remodeling, Exterior Remodeling, Glass Block, Kitchen Remodeling

Cash home buyers

Buying a home with cash can save on purchase prices A shower that was converted from a bathtub space

Bathtub converted to a shower
Bathtub converted to a shower

Have you pulled money out of the stock market over the last few years looking for a safe place for your capital? Do most of your investments carry low interest rates? If so – the timing may finally be right to consider buying a home or condominium for your personal use, rental, or resale.

You may say – real estate – you’ve got to be kidding! With continued tight lending practices cash buyers have all the cards – and there’s a lot of cards (i.e. home supply) available. With the large stock of foreclosed homes and short sales (sales where the value of the home is less than what’s owed on the mortgage) you can find great deals (note: cash buyers can often buy homes for 5 to 10% less in an already depressed market). These existing homes will likely come with a “price” – they often need remodeling and renovations.

Here’s some remodeling tips to consider to maximize the value of a newly purchased home:

Remodeling Trends 2010 & 2011 – How to get the biggest bang for your buck

Written by Mike Foti on . Posted in Basement Remodeling, Bathroom Remodeling, Exterior Remodeling, Kitchen Remodeling, Windows

Basement Remodeling to add cost effective living space
Basement Remodeling Adds Cost Effective Living Space vs. a Room Addition
Steel Entry Door for curb appeal and high cost/value relationship
Steel Entry Doors Add Curb Appeal and Provide a Great Value vs. Cost

Maybe at no time in recent history is it more important than now to spend your money wisely. We’re just pulling out of a recession (at a slower pace than most would like), housing and resale prices are still depressed, and unemployment is coming down (very slowly).

So – if you’re in a home that’s in desperate need of several home improvement projects where should you begin to get the most return for money spent? Is there some type of statistical guide to help you prioritize remodeling projects based on the market value they will add to your home? Fortunately the answer is yes!

Every year the remodeling industry with the assistance of Realtor magazine, the National Association of Realtors, Specpan (an on line market research company) and HomeTech Information Systems (an estimating software developer) team up to complete the Cost to Value Report. Here’s a quick recap of the findings:  

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