Remodeling: How to get the most bang for the buck

Arlington resident Janet OGrady recently had the front walkway and porch steps replaced on the rambler shes owned for 30 years. She also had her kitchen painted.

Now shes planning to upgrade her countertops to granite.

Eventually, Ill sell, but I wanted to do the work when I could enjoy it, she said. Now Ive got this fabulous front walkway and it opens up the world, she added.

Shes in good company.

As the housing market recovers, spending on remodeling is rising. Whether to increase resale value or to simply make their surroundings more contemporary, homeowners spent 9percent more on renovations in 2012 than the previous year, according to an April study by the Joint Center for Housing Studies at Harvard University.

Renovation spending is expected to increase again this year, the study says.

The top improvements homeowners make, according to the latest American Housing Survey, are upgrading appliances and major equipment as well as flooring, paneling, ceilings, windows and doors. Garages, at a median price of $15,000, are the most expensive project. Kitchen remodeling, at a median price of $5,000, is the next most expensive one, followed by roofing, at a median cost of $4,559.

Growth in remodeling is fueled by several factors, experts say.

Rising home equity has given owners incentive to resume spending on improving their properties.

Underwater homeowners, whod like to sell but cant, are instead upgrading. Many who arent underwater, drawn by the sellers market, are investing in renovations that can help them get top dollar once they list.

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Remodeling: How to get the most bang for the buck