RealEstateJournal.com Advises Consumers to Choose Renovations
with the Best Return
Posted online at Real Estate Media
September 23, 2005
www.rismedia.com


RISMEDIA, Sept. 23, 2005 To get the best return on resale, consumers need to choose their home renovations wisely, says RealEstateJournal.com, The Wall Street Journal’s guide to property.

RealEstateJournal.com says home buyers are willing to pay more for central air-conditioning and fireplaces, eat-in kitchens, utility rooms and in-ground swimming pools. But they don’t want to pay extra for dining rooms, dens or studies, intercom systems, kitchen pantries, above-ground swimming pools, home offices or in-law suites.

Bathrooms and swimming pools always have added value, but some other home improvements are more susceptible to fading in and out of fashion. Some of the renovations costing under $10,000 that are worth doing in today’s market include installing granite countertops, new carpeting, a pull-out kitchen faucet, melamine closet systems, synthetic entry doors, laminate wood floors, body-spray showerheads and garage storage systems.
“ It isn’t how much you spend, it’s how you spend it,” says Valerie Patterson, senior producer, RealEstateJournal.com. “The trick is to bring your home up to neighborhood standards, but no higher.”

Here are some tips from RealEstateJournal.com for those contemplating home renovations:

•	Remember that you’re in it for the long haul -- count on a major home remodeling taking as much as twice as long as you’d planned
•	Expect the unexpected -- set aside as much as 20% of your budget for contingencies.
•	Relationships with contractors are everything -- communicate with your contractors all the way through.
•	Count on as much as one-fourth of your budget being taken up by finish-work -- this includes everything from light switches to the kitchen sink.
•	Don’t pay too quickly -- if you do, you won’t have leverage when something goes wrong.