How much will it add to the value of my house?

Question

I'm getting vinyl siding done on my house, I plan on painting the inside of my house and last but not least getting hard wood floors for most of the house and new carpet/tile for the rest...these projects plus some simple landscaping...what do you think it will do for me when I go to sell...house was priced at 77,000...bought it for 66,000 2 1/2 years ago...the siding is the first major remodel getting done on the house since it was built (1950s) Thanks for all the input!

Answer 1

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Answer 2

The house has depreciated in this market and maybe worth 66K today.  Devide the price you think it's worth today by the sq. ft. and you'll know the price per sq. ft.  Compare that to other listings to see how much you can put in to the house and not go over the average price/sq.ft.  If the house is 1000 sq. ft. and priced at 77K, it's $77/sq. ft. (pretty high for some areas)  or at 2000 sq. ft. it's $38.50/sq. ft. (pretty cheap).  Total your estimates and add it to the present price and re-devide by the sq. ft. and you'll see the new price/sq.ft.  From there figure out what you think the best use of your remodeling $ is.  

Answer 3

Depends on what the rest of your house looks like. Are your cabinets, bathrooms, or light fixtures out of date/style as well?

I am remodeling a house now that was worth around $80,000. (I didn't pay near that much, it was a foreclosure!) I'm doing hardwood and carpet, new light fixtures, new kitchen and bathrooms, etc. It's estimated to be worth around $150,000 by changing all of that.

Since you're doing new siding, but not doing a new kitchen or bathrooms, my estimate would be somewhere around $100,000-$110,000. Kitchens and bathrooms are where you get most of your profit from!