Remodeling - Does it Pay-Off ??

Realtor magazine and Money magazine both had stories this month on remodeling. They covered return on investment by type of project, and reiterated that location, location, location is still a key factor. Another key factor is the time period you'll be holding the property prior to sale.

Before remodeling, consider carefully how long you will be holding the property (assume a 5 year pay-back to play it safe). Also consider the improvement versus the neighborhood the property is located, as well as the market conditions in the area.

Realtor Magazine's 10 Big-Impact, Low-Cost Remodeling Projects:

1. Tidy up kitchen cabinets. (add roll-out organizing trays)
2. Add or replace tile.
3. Add a breakfast bar.
4. Install granite tile instead of slab.
5. Freshen up a bathroom without re-tiling. (new medicine cabinet, faucet, fixtures)
6. Freshen up the basement. (paint is the least expensive upgrade)
7. Add a room. (any unused space??)
8. Spruce up cabinet fronts.
9. Replace light fixtures.
10. Tech-up the garage. (add a touch-pad entry system)