Which remodeling projects are worth your money? – The Durango Herald

Many homeowners have held off investing in home improvements as property values declined, but now that the economy is healthy and the real estate market is gaining momentum, homeowners again are considering selling or possibly updating their current home.

Even if you are not planning to sell your home anytime soon, it is an inevitable question when you consider remodeling: How much will this improvement add to the value of my home?

As a real estate agent, I often have clients contact me long before they list their home to review what improvements or remodels make sense. Agents who are busy representing buyers are walking through homes on a regular basis, and it becomes clear to us what works and what does not, what buyers are attracted to and what turns them away.

The top-ranking improvement? A new front door, which on a national average adds 96.6 percent of the amount you spend to the value to your home, according to Remodeling magazines annual Cost vs. Value report for 2014.

Evaluation of dated elements such as doors, windows and light and bathroom fixtures in general yield a better financial return than bigger remodeling projects, such as additions or gutting a kitchen or bath. However, any real estate agent will tell you that remodeled kitchens and baths still bring a significant payoff, and kitchen remodeling costs often are overestimated by the buyer.

The average cost of a minor kitchen remodel new cabinet doors, appliances, countertops, sink, faucet, paint and hardware was $18,215 in the Mountain region, according to the Cost vs. Value report.

Yet it is important to do the right kitchen remodel. Take the time to do the research and look for professional advice before making the investment.

Many of my clients look to a popular app called Houzz, where you can search many home ideas by category and even find floor plans similar to yours to help you get ideas and visualize how the finished product will look. It also is a great tool to communicate to your contractor what you are looking for. Even if you are trying to choose a door color to go with your gray wood-sided home, just put this in the search criteria and poof! the visuals appear. This tool has helped me communicate to my presellers what they can do to improve their home before hitting the market.

Remember to stick to the overall style of your home; putting an ultramodern kitchen into a 100-year-old Victorian home isnt such a great idea. To add value, you should not design new spaces that are incongruous with the rest of the houses architectural style.

According to the 2014 report for the Mountain region, renovations that bring the greatest percentage return on investments include: entry door replacement, 88 percent; attic bedrooms, 83 percent; basement remodel, 81 percent; deck addition (wood), 81 percent; garage-door replacement, 80 percent; minor kitchen remodel, 79 percent.

Kelly Kniffin is a Realtor with Legacy Properties West-Sothebys International Realty and serves as president of the Durango Area Association of Realtors. She can be reached at kelly@homesdurangoCO.com.

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Which remodeling projects are worth your money? - The Durango Herald