BEST 2018 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

BEST 2018 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

It would be nice if you could count on getting one dollar back when you sell your house for each dollar you invested in renovations. Most people hope for more than a dollar-for-dollar return. In reality, many improvements return more or less.

For example, in a past Cost Versus Value Report, published by the National Association of Realtors, as reported by Inman News, nationally, the average percent recouped on a bathroom remodel was  90.1 percent. It was 88.1 percent for a deck addition, 81.2 percent for a family room addition, and 79.4 percent for a major kitchen remodel.

“It's important to do due diligence investigations before embarking on a remodel project, just as you would if you were considering buying a new home. There are many variables to consider,” stated Teresa Kriston, Realtor agent with ERA Justin Realty Co.

“Consider that the figures quoted are national averages. The amount recouped on a remodel depends in large part on where you live. There's significant variability from one city to the next, according to the NAR report.  For instance, nationally, homeowners recouped possibly 90 percent on a bathroom remodel. But, the amount recouped for the same job was 109.7 percent in New York City, 100 percent in San Francisco on average.  The return on a remodeling investment will also depend on the value of your home, particularly in relationship to the value of homes in your neighborhood. If you have a small home in a neighborhood of larger, more expensive homes, you could come out ahead by enlarging your home. However, it's important to keep costs in line so that you don't end up over-improving your home for the neighborhood. Buyers tend to discount a home that's priced above the value of other homes in the neighborhood. In areas where home prices are stable, you're likely to recoup more on your remodel investment than you would during times of meager appreciation.

There's a subjective factor that can't be overlooked when remodeling. This factor is often referred to as pride of ownership, but don't discount the value of creature comfort. There's a certain sense of well being to be derived from a home that suits your lifestyle while aptly reflecting who you are. Despite these factors, from an investment standpoint, it makes sense to consider resale value before making an investment in a major renovation. This doesn't mean that you should remodel your home with someone else in mind. But, if your aim is to recoup as much of your investment as possible, it's wise to consider homebuyer preferences in your area. Also keep in mind that while trends change, quality and good taste are timeless.  The NAR Cost Versus Value Report was based on professional judgment rather than on actual sales data. Therefore, the report is somewhat subjective. However, it does point out the importance of carefully considering before remodeling.”

Teresa concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase.  We live it every day.  Because of our daily priorities, we proudly received the prestigious ERA worldwide  ‘Commitment to Excellence Award.’ For these reasons ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice during its 68 years of operation.”

Realtor Agent Teresa Kriston Joins ERA Justin Realty

Realtor Agent Teresa Kriston Joins ERA Justin Realty

“Dealing honestly, openly and having pride in the service you provide your buyers and sellers will bring respect and trust in you,” words of Teresa Kriston who is part of the ERA Justin Realty team of Realtor agents.


Jennifer Darby Metzger, broker co-owner stated, "Teresa's hard work, enthusiasm and focus in handling all details of her transactions result in successful purchases and sales. We are pleased that she has joined our active team, being a Top-100 ERA real estate firm globally.

Teresa's specialty is her love for real estate, currently owning her 11th home and residing in Rutherford. She has personally restored four homes including a Brownstone, duplex dwelling, single family and office in Hyde Park. The others in Tappan and Hoboken. Her expertise is a natural fit for her buyers and sellers working with her in purchasing, selling and staging at ERA Justin Realty.

She is equally active in her time away from the office with her sons Kurt and Thomas, daughter-in-law Stephanie, granddaughter Heidi and grandson Kole, and she can be found locally walking her dogs. Teresa has held the position of Controller of RTS Capital Services.

Teresa stated, “ERA Justin Realty is widely recognized for their professionalism, skilled staff, and forward industry thinking and the use of cutting-edge technologies resulting in successful transactions to better serve our buyers and sellers. I immediately felt a connection and at home with the firm To say you are affiliated with ERA Justin Realty brings strong satisfaction. With their support systems, success follows, as we all work to exceed buyer and seller expectations.”

She then concluded, “It will be my pleasure to find a home for you; an individual expression of ourselves as well as a welcoming sanctuary for our families. My philosophy on life and business is you can only expect what you inspect. I like my surroundings orderly so nothing is missed or forgotten and I continually review matters for my buyers and sellers from every side so they maintain successful advantages in their transactions.