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Contractor Hotline
Dependable, pre-screened professionals for all your household needs |
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On The Level |
October 2009
Volume II, Issue VI |
Dear Friends,
If you have ever considered making a home improvement, large or small, most likely you have given some thought to the financial impact it will have. While it might be easy to decide if a modernized kitchen or outdoor entertainment area will improve your quality of life, it may not be as easy to determine how much you may need to spend and still expect a reasonable return on your investment. Luckily, there are some helpful resources available to assist in making these often difficult decisions. Whether you are contemplating energy conserving improvements, updating a kitchen or bath, or embarking on an extensive remodel, we hope this issue of On The Level will provide useful information to assist in your next steps.
Best regards,
Cari Barron | |
| Home Improvement Cost vs. Value |
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If you are planning to make a significant home improvement it would be wise to know what to expect as a return on the money invested once you sell your home. Even though the decision to remodel your home may be based more on necessity, the cost to do so can be substantial and the rate of return should be carefully considered. The results from the National Association of Realtors and Remodeling Magazine's 2008-09 Remodeling Cost vs. Value Report is a good place to start. The report lists the leading home improvement or remodeling projects, taking into consideration construction cost vs. the average rate of investment return. These numbers will vary depending on your neighborhood and how closely your project matches the report's project description.
Comparable to figures from the 2007 report, many smaller, lower-cost, maintenance type projects remain high on the list. Replacing older windows, siding or a worn roof all improve curb appeal and ultimately the home's salability. Additionally, making energy conserving improvements will reduce your home's heating and cooling costs. If these upgrades are completed by December 31, 2010 you may also benefit from federal tax credits available to homeowners making eligible energy reducing improvements. Combine all these factors and the return on your investment can be quite significant. For current requirements on improvements eligible for tax credits visit The Stimulus at a Glance Chart.
According to Remodeling Magazine's 2008-09 Remodeling Cost vs. Value Report, the top five improvements you can make in the Seattle area for the highest rate of return are: 1) siding replacement 2) adding a wood deck 3) minor kitchen remodel 4) window replacement and 5) bathroom remodel. Click here for further details regarding these projects, as well as adding a garage, home office remodel, and basement remodel, to name a few.
Siding replacement: Not only does replacing siding add up to good value, it can significantly increase curb appeal by improving the look of your home. Fiber-cement siding remains the leader in the pack with an average return of 107.8% on your investment. However, the style of your home and those in your neighborhood should be carefully considered when selecting the type of siding materials you plan to use. For instance, replacing traditional wood siding with vinyl may actually detract from the home's value.
Wood deck: If you don't already have a deck or patio, adding a mid-range, wood deck is a relatively easy improvement to make. If you plan to stay in the home long term you may want to consider spending a bit more and using low maintenance composite materials. According to the building standards in the Cost vs. Value report you could potentially recoup 101.1% of the cost to build a mid-range wood deck and 90.3% for a mid-range composite deck. That's not a bad return for all the enjoyment you and your family will gain from this improvement.
Minor kitchen remodel: This would be considered more of a facelift for an older kitchen that is functional but needs some cosmetic updates. It includes replacing cabinet and drawer fronts and hardware, countertops, sink and faucet, flooring, wall covering and painting the trim. It also includes replacing the wall oven and cooktop with new energy conserving models. Being careful to stay within a modest budget this type of remodel could yield a 100.5% return.
Window replacement: What you will save on your winter heating bill may be reason enough to replace older, dated windows. That reason combined with the potential return on your investment and possible savings from federal tax credits make this improvement hard to ignore. When looking at the broad spectrum available it seems whatever fits your budget would be a wise investment from mid-range insulated wood windows at a 99.4% return to insulated vinyl windows at a potential return of 93.7%.
Bathroom remodel: Few one-room remodels have as much visual impact as an updated bathroom. A modest upgrade replacing existing fixtures without changing the floor plan could net as much as a 92.7% return. This includes replacing older fixtures with new tub/shower & tile surround, toilet, vanity & sink, medicine cabinet with lighting, tile floor and wall coverings.
"© 2008 Hanley Wood, LLC. Reproduced by permission. Complete city data from the Remodeling 2008-09 Cost vs. Value Report can be downloaded free at www.costvsvalue.com." |
| Referral Appreciation Program |
| Many of our satisfied customers are spreading the word, helping to connect their friends and family with reliable contractors and helping us grow and be available to meet your needs. To express our gratitude we are pleased to 'give back to you' for any referral that results in completed work. For new customers referred that result in $500 or more per business transaction, you will receive a $25 American Express cash gift card. For new customers referred that result in anything less than $500 per business transaction, you will receive a $10 Starbuck's gift card. Contact us directly with your referral's information, or simply ask them to mention how they found out about us. | |
Phone: 425-775-9085
Fax: 425-775-9150
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Fall Checklist |
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Caulk around doors and windows as needed
Have the chimney inspected and cleaned
Have the heating system inspected and serviced if needed
Prepare an emergency kit in the event of a power outage or other emergency
Carve Halloween pumpkins! |
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What Our Customers Are Saying |
Using your service was a great way to avoid the uncertainty of working with someone we didn't know. And you were there watching every step of the way - great peace of mind. ~ K. Kauffman, Seattle
Scott and his crew were professional and communicated well. They delivered as promised within a short time frame. ~ B. Hanisko & C. Marker, Seattle
I have used four roofers on several buildings in recent history and this was hands down my best experience. ~ W. Packard, Seattle |
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Whether you have an immediate problem or a long delayed plan to refurbish your home, we can help. We welcome you to visit our website at www.contractorhotline.net for a list of all the household services we can assist you with! | |
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