New homes are hot
What’s new is well…new again. According to a late December Census Bureau report, new home sales are growing at their fastest pace in two years.
The report showed new home sales are up 15 percent from 2011.
This shows that as the market recovers, more consumers are using the opportunity to go after the home of dreams.
Which home improvements give the best payback?
If you’re thinking about remodeling your kitchen, or finishing your basement, you probably want to get your investment back when you sell your home. But when it comes to payback value of home improvements, some are definitely more profitable than others. As a general rule, kitchen and bathroom projects usually get a nice return on investment, typically 90% or more.Things like adding rooms or finishing basements tend to pay back the least.Finishing a basement usually returns less than 50%, so it’s not a project likely to show profit at selling time.
- Kitchen remodeling – 90%
- Add a bathroom – 90%
- Bathroom remodeling – 80%
- Install central air – 75%
- Add a deck – 70%
- Replace windows – 70%
- Add a room – 55%
- Finish a basement – 40%