Best Upgrades To Make When Preparing Homes for Sale in Anchorage Alaska
by Dan Wolf
on Thursday, February 7th, 2013 at 3:37pm.
When preparing their homes for sale in Anchorage Alaska, most people begin to look around and consider making some pre-sale improvements to help attract buyers. But what upgrades actually lead to a quicker sale, higher purchase price or best return on investment?
According to Remodeling Magazine's Cost vs Value Report 2013, the Pacific Region market, which includes Alaska, has the highest average remodeling project cost-value ratio – meaning costs of the projects versus the value they retain on resale.
The data indicates the top 5 projects of mid-range cost and % of costs recouped are:
Wood Deck Addition = 96.1%
Entry Door Replacement (Steel) = 95.0% (drops to 84.6% if fiberglass)
Garage Door Replacement = 92.9%
Minor Kitchen Remodel = 90.0%
Attic Bedroom = 89.0%
As has been the case in previous years, window replacements also had a good showing at 88.6% for wood and 82.5% for vinyl.
Notice that the top three are all "curb-appeal" improvements, which encourages potential buyers to actually enter the property...where they'll then be in a position to appreciate any interior upgrades as well.
So, what projects came in at the lower end? Installing a backup generator (59.9%), a sunroom addition (51.6%), and a home office remodel (50.7%).
When considering any improvements, replacements or upgrades to your home, keep in mind that anything out of the "norm" for your immediate area or culture may bring no return at all–or even carry a negative return, if potential buyers believe it will cost them too much to remove something they dislike. (Think seriously before hanging that velvet Elvis wallpaper or filling the family room with retro shag carpeting!)
At Wolf Real Estate Professionals, we strive to provide specialized and outstanding service and would be happy to assist you in determining which projects would be most beneficial in your particular situation. Contact us today.