Annually, the National Association of Realtors creates a report ranking home improvements. This latest report takes a deep dive into the reasons a homeowner remodels, the outcome of taking on projects, and the increased happiness found in the home once a project is completed. The report also contains:
Photo by Alexander Mils on Unsplash.com
The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of Remodeling Industry (NARI).
How much appeal each project is likely to have for buyers, according to REALTORS®.
How much REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home.
We know with home ownership comes home maintenance and improvements. We bought our first home in the Kenny neighborhood of South Minneapolis in the late 90s, then remodeled and fixed-up others in the Kingfield, Armatage, Bancroft neighborhoods, and another just off Minnehaha Creek, and another in Deephaven, all within our first years in the business. With that experience in addition to helping hundreds of other homeowners fix-up and sell their homes - Well, as you can imagine, we’ve acquired some skills and resources over these years. Please don’t forget that as your Realtors, we’re here through the entirety of your home ownership. We’re always here to help!
Photo By Roselyn Tirado on Unsplash.com
At the top of NARs Home Interior Projects Report is Refinishing Hardwood Flooring – With a whopping 147% return on your investment! Installing new hardwood flooring was estimated to bring a 118% ROI and new Insulation was right behind it with a 100% ROI. Painting your homes entire interior can bring the enjoyment of living in your home up to a 10 according to NARs Joy Scoring System! As for return on your investment for painting your homes interior, well that’s a given, especially when as friends and clients of Maple Lane Realty you’re eligible for up to 30% off Sherwin Williams paint and supplies. Honestly, fresh paint colors and refinishing hardwood flooring have always been our top recommendations for homeowners preparing to put their home on the market. Like we’ve said so many times before, do these projects when they need to be done – Then, YOU get to enjoy them! Too many wait until it’s time to move.
Photo by Dillion Kydd on Unsplash.com
Replacing Garage Door(s) and New Roofing topped the list for Exterior Home Improvements – Each garnering a solid 100% ROI! And, installing Vinyl or Fiber Cement Siding bring an over 80% ROI. That said, we recommend that you immediately contact: Carmelo Gomez with Bayport Roofing & Siding (612) 790-8735 Carmelo@bayportroofing.com. Ask him to inspect your roof, siding and gutters for hail and wind damage from a storm on May 19, 2022. We discovered late last summer that we had hail and wind damage. Carmelo came to inspect, then met with our insurance adjuster and we’re not only getting a new roof and gutters on our home in South Minneapolis, our duplex in St. Paul is also eligible for a new roof! Our friend Julie referred Carmelo to us, and she along with our next door neighbor both had their roofs replaced by Carmelo’s team in the fall. Mark’s mother in Richfield and our recent home sale near Lake Harriet are getting new roofs this spring with Carmelo’s team too! As you can see the storm was Twin Cities Metro wide, your home too could be eligible! Time is limited though, so make the call today!
Photo by Matthew Henry on Unsplash.com
There are Energy Rebates available to help you brunt the cost of maintaining and updating your home. You just have to educate yourself or give Mark a call! We just replaced our water heater and are scheduled to get about $800 back from the government for installing a new energy saving tankless water heater! Be sure to check which items and models are eligible for rebates before you replace them. There are rules to follow and by doing so, you too can be eligible for not only peace of mind, but some actual money. At this time, homeowners are eligible for up to $3600 in rebates annually. Now that’s money in your pocket!
Over the winter, Mark has taken on many projects for folks looking for handyman services. He’s installing shelving and under cabinet lighting, replacing a front door and dishwasher and trimming out a new basement egress window just to name a few. We even helped my sister re-design a bathroom to accommodate my 86-year-old mother who has Parkinson’s. With interest rates where they are we’ve had a little bit of time on our hands. Really, if you need something done, give us a call first, perhaps it is something in our wheelhouse or we can at least steer you in the right direction.
And, if you’re looking to see that whole 58 page Remodeling Impact Report from NAR - Here it is: Remodeling Impact Report