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May 07, 1988 - Image 18

Resource type:
Text
Publication:
The Detroit Jewish News, 1988-05-07

Disclaimer: Computer generated plain text may have errors. Read more about this.

SUVMER COMFORTS

A side from the enjoyment that home improvements

MI can provide your family, additions such as swimming

BY RUTHAN BRODSKY

pools and decks can also enhance property values
and real estate marketability. Whether or not you can
recover the investment cost of a home improvement
depends greatly on if the improvement is unique to your
neighborhood, the buyers' interest in such an item, and
how weathered the addition is at the time of the sale.
Below are examples of various home improvements, their
average cost, and the percentage of that cost you can
expect to recover, based on national figures compiled by
Real Estate Today, the official magazine of the National
Association of Realtors.

U ow do you know it's spring? When, in

Project

Cost

Recovery 0/0

Air Conditioning (central)

$2,500-$4,500

75-100%

$5,000-$10,000

1 0 0%

$5,000-$10,000
$5,000-$10,000

80%
Up to 50%

$2,000-$3,000

100%

Bedroom
Conversion of unused
space
Addition

$6,000-$8,000
$10,000-$15,000

100% (third)
75-85% (fourth)
up to 65%
(fifth)

Deck

$5,000

70%

Enclosed Porch

$5,000-$6,000

70%

Exterior Painting

$1,000-$2,000

50-60%

Exterior Siding

$3,000-$8,000

75% or more

Fireplace

$1,500-$3,000

75% or more

Garage

$3,500-$6,000

50-100%

Kitchen Remodeling
(excluding appliances)

$3,500-$10,000

60-70%

Landscaping

$50-$2,000

40-60%

Skylight

$3,000

Up to 66%

Swimming Pool

$10,000

0-40%

Luxury improvements
extend your enjoyment
of the warm weather

il addition to the robins chirping and the
tulips blooming, homeowners contemplate
a multitude of ways to enhance their living
arrangements. Painters and contractors, with
their trucks and ladders, appear on the
streets for the annual orgy of painting, fix-
ing up and/or remodeling.
Besides such popular jobs as adding a
room or remodeling a kitchen, there are lux-
ury improvements. For those who can afford
them, solariums, tennis courts, in-ground
swimming pools, and decks with hot tubs are
ways to further enjoyment of the warm
weather while enhancing property value.
Following are the experts' advice on these
more-than-ordinary projects.

18

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