2015 Cost vs Value Report

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Realtors and most HGTV watchers know that updated kitchens and baths sell homes.  But what about other projects?  If you have some money to reinvest back into your home, and are considering which projects will give you the most bang for your buck, take a look at Remodeling magazine’s annual Cost Vs Value Report 2015 report for the Washington DC area.  They compare the average cost for 35 of the most popular remodeling projects with the value that those projects retain at the time of resale.

In the DC Metropolitan area, some of the top performers are:

Replacing your front door with a steel door (113.1% return on investment)

Adding or replacing a wood deck (95.7% return on investment)

Adding a stone veneer accent (95.4% return on investment)

Replacing garage doors (91.4% return on investment)

The magazine seems to indicate that you may not recoup every penny you put into your project, but as a Realtor and former property flipper, we will tell you that you CAN earn back your investment — even profit–from certain repairs.  The trick is to know which items to improve, and to what extent.  Not sure what those are?  Invite a us into your home to get our advice.  Or ask us in the comments section and we’ll give you our opinion!

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Median Cost of Rent for a 1-Bedroom in DC

We wanted to share DCist’s article about the high cost of rent in the DC area.  Wouldn’t you rather have that hard-earned money go towards owning a home?  We can help with that!

DCist:

“In the spectrum of cliche D.C.-centric articles, one about how expensive the rent is in a given neighborhood is perhaps the most cliche. And yet, here we are. So without further adieu, here’s a map that looks at the median rent for a one bedroom apartment in each neighborhood* of D.C.

This map comes via Zumper.com, a home and apartment rental search site. According to their research, the city-wide median rent for a one bedroom apartment is $2,000, making it the fourth-most expensive market in the nation in the month of February [Insert “Rent is Too Damn High! joke here]

But Zumper’s research also confirms what another report revealed last month: the rent is actually declining. In the last month, one-bedrooms declined by 0.5 percent in February and by 2.4 percent in the quarter. And it’s not just with one-bedroom apartments. All kinds of rentals in D.C. are declining, by 0.6 percent last month and by 2.7 percent in the last quarter.

*Note: this map, omits neighborhoods East of the Anacostia river. Devin O’Brien, the blog post’s author, tells DCist the omission was “nothing deliberate,” but was the first time one of Zumper’s designers put together a D.C. map, “so they drew the boundary at the river.” O’Brien adds that the data for rental prices East of the Anacostia River can be found on the site here. “

2011 Cost VS Value Report

Realtors and most HGTV watchers know that updated kitchens and baths sell homes.  But what about other projects?  If you have some money to reinvest back into your home, and are considering which projects will give you the most bang for your buck, take a look at Remodeling magazine’s annual Cost VS Value report.  They compare the average cost for 35 of the most popular remodeling projects with the value that those projects retain at the time of resale.

In the DC Metropolitan area, some of the top performers are: replacing your front door with a steel door (for midrange homes), replacing windows with new, energy efficient vinyl windows; and replacing garage doors.

The magazine seems to indicate that you may not recoup every penny you put into your project, but as a Realtor and former property flipper, I will tell you that you CAN earn back your investment — even profit–from certain repairs.  The trick is to know which items to improve, and to what extent.  Not sure what those are?  Invite a Realtor into your home to get their advice.  Or ask me in the comments section and I’ll give you my opinion.

2010 Best Places To Live

According to Money Magazine, some of the cities in the Washington Metropolitan area are among the best places to live in the US:

Columbia and Ellicott City, MD tied for SECOND PLACE!!!

Gaithersburg, MD ranked #25

Centreville, VA ranked #30

Rockville, MD ranked #31

Alexandria, VA ranked #47

Money Magazine took a look at population, unemployment rates, crime, things to do, and housing.

What do you think?