Ann Arbor Real Estate
It’s a Price War and a Beauty Contest
Why some homes command Top Dollar
To us, US News and World Report’s statement about Ann Arbor “This verdant city forty miles west of Detroit is one of the most pleasant and prosperous in Michigan” seems a bit of an understatement. (see link below)
Ann Arbor traditionally has one of the most stable economies in Michigan, with Real Estate and home resale values holding more firmly than any place else in South Eastern Michigan.
We’re frequently asked, “What are the best investments to increase the value of my Ann Arbor home?”
Well, that is an interesting question, and we answer it in a couple of ways
The Yes Factor
We tell folks that there are four things that almost all of us look for (and are attracted to) in an Ann Arbor area home –
- lots of natural light,
- lots of gleaming hardwood flooring
- cool kitchens – preferably solid surface counters, stainless steel appliances and warm, natural wood cabinets
and
- generous master bath/walk-in closet.
Sometimes those things don’t appear to pay off directly in cost vs value calculations, but they certainly do increase the “Yes” Factor in Buyers decisions of which home to make a serious offer.
Maximum Bang for the Remodeling Buck
Remodeling magazine’s 2010-11 Cost vs Value Report is out and has been summarized in the January, 2011 issue of Realtor magazine.
Here are their Top Five rated investments for getting the most from your Remodeling Dollars
1) Who’s that knocking at my door?
Front Door Replacement: Cost $1,218 Resale Value $1,243 Cost Recouped 102.1%
2) Who’s that knocking at my (Garage) door?
Garage Door Replacement: Cost $1,291 Resale Value $1,083 Cost Recouped 83.9%
3) Siding Replacement: Cost $13,382 Resale Value $10,707 Cost Recouped 80.0%
4) Kitchen Remodel (minor): Cost $21,695 Resale Value $15,790 Cost Recouped 72.8%
5) Deck Addition: Cost $10,973 Resale Value $7,986 Cost Recouped 72.8%
For the complete report, and more detailed information go to www.costvsvalue.com
US News http://money.usnews.com/money/retirement/best-places-to-retire/michigan/ann_arbor
