According to Remodeling Magazine national survey, Cost-vs-Value, interviewed Realtors in 80 metropolitan markets found that uncertainty and restraint are the primary driving forces behind home owners remodeling projects. The report identified 10 "Big-Impact, Low-Cost Remodeling Projects"

Home sellers are adding more living space in hopes that more buyers will be attracted.  2 of the 10 projects included  converting an attic into a bedroom or adding  wood deck.  According to the Cost Vs Value survey, converting an attic into a bedroom was a risky move in the past,  "landing squarely in the middle of the rankings", this year it is third place!  In Virgina such a project averages $44, 000 with a return of  $39,600 or a 90% return on the investment!

The report also shows that Minor kitchen remodeling over a major kitchen remodeling project not only costs less $22,000 compared to $59,000 but it also has a slightly higher return on investment 77% compared to 74%.  One of the less costly projects  the installation of a 20-guage steel front door costing about $1,065 had a resale value of $1,562 resulting in a whopping 147% return on investment!

We have all heard the commercials that replacing your existing widows with new replacement windows will increase your resale value.  The report shades some light on this as well.  In Virginia the average cost of replacing existing windows with vinyl was $9,700 and the resale value added was $7,400 or 76% of the home sellers investment. 

According to Cost-vs-Value report 2009-10,
10 Big-Impact, Low-Cost Remodeling Projects are:

  • Tidy up kitchen cabinets
    Keep in mind that home buyers do open the kitchen cabinets to
    look inside. Consider adding roll out shelves , it adds not only
    convenience but the perception of more space

  • Add or replace tile
    Use inexpensive tile to replace or update outdated back splashes, or to
    liven up a bathroom. New tile and grout has a cleaner look

  • Add a breakfast bar
    Do you have a wall separating your kitchen from the living room? Cutting
    an opening and adding a breakfast bar might be an ideal solution.. This project
    should cost less than $1,000

  • Install granite tile instead of a slab
    Instead of adding a large slab of granite which can cost upwards of $4,000 to $6,000
    consider using granite tile for a fraction of the cost.

  • Freshen up a bathroom without re-tiling
    Simply adding new light fixtures, medicine cabinet, faucet and vanity and repairing any
    tile and grout ( see bullet 1 ) will add value to the home buyer.

  • Add a room
    In some homes, simply adding a wall to create a new living space could have a profound
    affect on your net. For example an Realtor had a client who spent $400 to close off a half wall,
    and added a door. This simple one day project resulted in $40,000 increase in the sales price!

  • Spruce up cabinet fronts
    Refinishing kitchen cabinets, removes that dated look. Either hire a professional or if you have wood and are handy with power tools consider doing the job yourself. Sand out the scratches, dents and discolorations, remove the hardware stain to your liking and add a sealant. Or consider painting the cabinets.

  • Replace light fixtures
    Improve your kitchen lighting by adding recessed lights on a dimmer, pendant lights
    over an island. These simple updates add POP and ambiance.

  • Tech-up the garage
    Add garage door openers with outside touch pad, consider adding storage.