Apartment rents in 79 U.S. metro areas were up, according to the Reis report. San Francisco and San Jose were among two of the cities experiencing fast rental growth increases, with rents increasing more than 6 percent. The Oakland/East Bay area also was on the rise, with rents up by 4.6 percent.
A continuing conundrum for home owners is, “Which home remodeling projects ar worth you money?” The answer can vary from year to year and season to season. U.S. News and World Reports says, “Even if you’re not planning to sell your home anytime soon, it’s an inevitable question when you consider remodeling: How much will this improvement add to the value of my home? Surprisingly, much of the time the answer is not as much value as it costs to actually make the improvement. But some home renovations bring yo more bang for your buck than others.” Their article has a good discussion of home improvement projects and lists the five renovations that give the highest percentage returns and five that give the least.
Home Improvements That Pay You Back
- Remodeling the Kitchen. You can expect to recoup 60%-120% of your investment on a kitchen remodel, as long as you don’t go overboard. You should never make your kitchen fancier than the rest of the house.
- Bathroom addition. If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. It is estimated that you can recoup 80% – 130% of whatever you spend adding a bathroom.
- Adding Square Footage. Adding more square footage to your home with a new room can be an incredibly expensive project. However, you can typically recoup 50% – 83% of your initial investment. Just make sure you keep costs under control.
- Adding a Deck. If you make your deck and your backyard more appealing, your house will be more appealing to prospective buyers when you decide to sell. Homeowners can recoup 65% – 90% of their investment by adding a deck.