Columbus home buyers often intend to make updates to their new property to improve its functionality, aesthetics and future resale value. However, very few home improvements provide a dollar-for-dollar return when it’s time to sell!
For this reason, buyers should avoiding purchasing a home that is too small or too outdated to serve their needs. It may be feasible to remodel your way to your dream home, but this could prove more expensive than what the property will be worth in the end.
Yet there are times when home improvements are desirable or necessary. Before you begin a project, you should understand the return on investment you can expect. For example, here are comparisons by the 2020 Cost vs. Value Report, produced by Hanley Wood Media, Inc. (Complete data from the Remodeling 2020 Cost vs. Value report can be downloaded free at www.costvsvalue.com.)
Best home improvement projects for return on investment in Columbus
- Mid-range bathroom remodel: average job cost $20,643, average return = 81.7%, or $16,871.
- Minor kitchen remodel: average job cost $22,602, average return = 80.4%, or $18,169.
- Exterior wood deck addition: average cost $13,222, average return = 75.8% or $10,027.
- Vinyl window replacements: average cost $17,346, average return = 75.1% or $13,029.
- Roof replacement with asphalt shingles: average cost $23,999, average return = 72.9%, or $17,501.
In general, practical upgrades that improve functionality and protect your home are a better idea than following quick-changing trends. Contact us to find out what features remain timeless in the eyes of Columbus home buyers!
As your Exclusive Buyer’s Broker, we serve your best interests at all times! Unlike real estate agents and brokerages who represent sellers, as an Exclusive Buyer’s Broker, we only represent you, the buyer, getting you the best price and terms with no conflict of interest at all times.
Understanding this distinction could literally save you thousands of dollars not only on the purchase price and terms, but also on seller concessions and home inspection issues, whether you are a first-time homebuyer or an experienced homeowner!
Contact us with your home buying questions! Remember, we are with you every step of the way…all the way home!
Andrew Show
Exclusive Buyer’s Broker, CEBA-M, MCNE, CSP, PSA,e-PRO, CREM, ABRM, AHWD
Buyer’s Resource Realty Services www.BuyersHome.com
Serving Metro Columbus, Ohio with Exclusive Buyer’s Agents
7100 North High Street, Suite 204, Worthington, Ohio 43085
614-888-4110 | 888-888-4110 Toll Free | 614-839-4110 Fax
