Palos Verdes Home Improvements Cost vs Value 2022
Palos Verdes homes owners often ask me what they can do to get the highest sales price for their home. In addition to a realistic listing price, it is important to remove the clutter and stage your home along with possible home improvements. Which home improvements and remodeling projects give the greatest return on investment? For owners of Palos Verdes homes (and Los Angeles County) this year’s Remodeling Magazine’s “Remodeling 2022 Cost vs. Value Report” (www.costvsvalue.com) © 2022 Hanley Wood Media Inc. is a blend of upscale and midrange projects. For 2022 in Los Angeles County, the remodeling projects with the highest return on investment are Garage Door Replacement at a 99% return followed by Manufactured Stone Veneer at a 95.2% return, Minor Kitchen Remodel (midrange) at a 88.7% return, and Grand Entrance Fiberglass at a 84.6% return. Report for Palos Verdes indicated the same numbers. As you can see, curb appeal is important to buyers who are getting the first impression of your home.
There were four Upscale Projects listed for Los Angeles County: Bathroom Remodel at 68.6%, Bathroom Addition at 66.1%, Major Kitchen Remodel at 65.7%, and Master Suite Addition at 57.8%.
Owners of Palos Verdes real estate remodel for different reasons, like the need for more space, to improve the functionality of specific rooms and to update them. Kitchen and bathrooms are usually the most expensive remodel as plumbing and/or appliances may need to be moved and/or replaced. There are also two specific reports for Palos Verdes homes that can be accessed in the Remodeling 2022 Cost vs Value Report (www.costvsvalue.com) for Los Angeles County. When you go to the main site, choose Pacific region and then Los Angeles or click the following link: (www.costvsvalue.com). After perusing the Los Angeles County Report, you can specify a zip code to access the Palos Verdes reports. You will be prompted to register before gaining access to the Report. The beginning of the Report has descriptions of individual projects (both mid-range and upscale) and you can then compare to your own.
Remodeling just for resale rarely nets you a dollar for dollar return. Most remodels are done for the enjoyment of the homeowner (who still wants to maximize their return when they do sell). My experience is that most buyers are looking for newer kitchens, bathrooms, master suites and nice yards. Curb appeal is very important because it is the buyer’s first impression of your home.
To read my prior article on Cost vs Value 2020, click here.
Photo of Palos Verdes Homes & Ocean Views courtesy of Arvin Design