Mulling the renovation to-do list
When you decide to stick around in your house for a while, chances are you'll end up doing work on it -- by choice (new kitchen) or not (new roof). A sales slump means a lot of people deciding to stick around for a while. But the recession and sluggish credit could make homeowners wary of extra expenses or unable to swing them.
That's why experts are telling The Sun's Andrea Siegel that many popular home improvement projects of the day are comparatively small. Like siding and window replacement:
Nationwide, this investment brought a hefty payback, according to Remodeling magazine's recent "Cost vs. Value Report."In the Baltimore area, midprice window replacements recouped about 75 percent of the price at resale. For siding, it was 88 percent, the highest payback of any project.
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Comments
This sort of 'article" is little more than a thinly veiled advertisement. The HI contractors are dying for business and the papers are dying for their advertising. A pathetic symbiosis.
As to improvements worth doing... make some income from them. The added or expanded bathroom, private entrance and kitchen (aka mother in law apt) for your boomerang children or other reduced circumstances relatives. Just make sure they pay you some rent.
Posted by: MrRational | January 18, 2009 10:58 AM
Well, the first thing on the list was painting and wallpapering, which most homeowners can do themselves. :-)
But anything that brings in rental income is a definite plus.
Posted by: Jamie Smith Hopkins | January 18, 2009 1:35 PM