It is during these times that you want to consider the potential return on your investment in order to better determine if you should make the investment at all or perhaps make a more modest im-provement.
Each year, Remodeling Magazine comes out with their annual "Cost vs. Value" report, broken down regionally and by major city.
Here's a sampling of improvements along with the costs that can be recouped for Atlanta:
Entry door replacement – 141.8 percent
Deck addition (wood) – 116.8 percent
Basement remodel – 83.4 percent
Bathroom remodel – 73.2 percent
Minor kitchen remodel – 79.7 percent
I would take these specific numbers with a grain of salt. There are many other factors that affect the value of your home; making these improvements won't guarantee a return equal to the list above.
However, if you're considering a remodel or significant improvement in order to sell your home, it is important to know first what your home would sell for in its current condition.
Once you know this and the cost of the improvement, you might be able to determine what your home's value would be after any improvement, or if you should make that improvement at all.
Bob Strader is a local realtor with the NORTH Group of Keller Williams Realty. Visit his blogs liveincumming.com or liveinalpharetta.com or email him: firstname.lastname@example.org.