PaybackRenovations can make a big differenceAFTERBY JANICE ROSENBERGin how fast you sell your home and howmuch return on investment you getThe renovation of this kitcheninvolved replacing old cabinetswith black, glass-front cabinetry,painting walls a vibrant red,changing countertops, installingnew, stainless-steel appliances,and creating a decorative, glasstile backsplash.A total renovation isn’t always necessary. For more,visit usaa.com/magazines and click “Quick Fix.”PHOTOGRAPHY BY ROGER TEEL24<strong>USAA</strong> MAGAZINE WINTER 2007 <strong>USAA</strong>.COM
You may be yearning to add ascreened porch, but will it help resale value?What about a master bath? A new deck? Beforeyou hire a contractor to help increase the valueof your home, find out which renovations aremost likely to pay you back.“If you’re going to stay for less than five years,be budget conscious about what you’re doing,”says Everett Collier of the National Associationof the Remodeling Industry. “But if you’re goingto stay for more than five years, think about whatwill make you happy.”KITCHENSTypically, kitchens cost the mostof all rooms to remodel, but you’llalso enjoy a big gain in sales price— as much as 80 percent of whatyou spend on a major, midrangeremodeling job, according to theRemodeling magazine Cost vs.Value Report <strong>2006</strong>.If resale is your top priority, gofor broad appeal.■ When replacing or adding cabinets,use lighter woods and nothingtoo contemporary.■ Stick with features and finishescommon to your neighborhoodand to the kind of house it is. Don’tput granite countertops in a starterhome, for instance.■ Ask local salespeople what sells best.■ Change out cracked and stained countertops,but not always with pricey granite. Less expensiveoptions include ceramic tile and concrete.■ Select up-to-date appliances. If you’re on a budget,visit retailers that sell secondhand appliancesor those almost as good as new.If your taste runs more contemporary and you’relonging for pendant lighting and zinc countertops,that’s OK, but plan to enjoy the room beforethe house goes onPaybackKITCHENNational average for a minor,midrange kitchen remodel:$17,928Recouped cost:85.2 %of the costBATHROOMNational average for amidrange bathroom remodel:$12,918Recouped cost:84.9 %of the costthe market. Then hope that someone with yoursense of style shows up.Keep in mind that if the kitchen is shabbyto begin with, any upgrades will help impresspotential buyers.BATHROOMSA major redo with new flooring, pedestal sinks,designer tubs, and showers with multiple showerheads can cost as much as $40,000, says GregoryA. Miedema of the National Association of HomeBuilders. “It’s the higher-end optionslike granite, frameless glass showerdoors, and basin vessel sinks thatadd to the cost,” he says. A midrangebathroom remodel costs $12,918.However much you spend, upgradingthe bath garners rewardsat resale. Recoup 84.9 percent for amidrange job, and in some regionseven more — in the Pacific Northwest,for instance, up to 103.2 percent, accordingto the Remodeling report.A few quick fixes include:■ painting cabinet doors and updatinghardware.■ adding stylish new faucets.■ reglazing worn tub and tiles.■ replacing older fluorescent lightingfixtures. “Lighting changes canmake a big difference in buyers’reactions,” says Pat V. Combs, presidentof the National Association of Realtors.As for a bathroom addition, if yours is the onlyhome on the market in your neighborhood withjust one or one-and-a-half baths, you’re at a deficit.If you live in a really good school zone likely toattract families, adding a bathroom makes sense,says Louise Farrar-Wegener of the InternationalInterior Design Association. Plus, you’ll like havingit until you move.MASTER SUITEA spacious master suite with a sitting nook,a changing area, and a closet that has organizersin place can make buyers swoon. Andthe master bath is a real selling point. “Insome ways, if that’s done well it’s almost asThis stuck-in-the-’80s kitchen started outdowdy. The new homeowner made upgradesshe could live with for a few years, removingwallpaper, adding a new sink, and raising theceiling. Then came the total transformation.BEFORE<strong>USAA</strong>.COM WINTER 2007 <strong>USAA</strong> MAGAZINE 25
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