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As the nation's housing
slump depresses home sales and prices, more owners look for ways to increase their homes’ value and attract buyers.
One of the best and most popular is remodeling. Owners who remodel often know about high-value areas such as the kitchen and bathroom. But too many forget another valueadded secret — use high-quality materials.
“Homeowners may initially save money with cheaper materials," said Richard White, an architect who specializes in custom homes. “But in the long run, they are holding down the potential value of their home."
The difference can be significant, according to a study by Harvard University’s Joint Center for Housing Studies. In homes that increased in value by at least 100 percent, the study found, owners spent 2.5 times more in improvements them in homes where the value increased by less than 50 percent.
70.5%