Posts Tagged ‘home improvement’

San Francisco Remodeling Cost Vs. Value, 2015

 

Even with San Francisco real estate prices at record highs and among the most expensive in the country, flipping properties is still both profitable and fairly common. Many properties that appear on the market as fixers over the past few years have returned and been resold as renovated (if not completely rebuilt) turn-key homes. Here’s a home in Noe Valley, purchased for $1,575,000 in 2012 that was flipped and sold in June 2015 for $7,000,000 (of course, well over asking price):

 

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553 Elizabeth Street: 2014 vs. 2012

Coincidentally, for the longterm homeowner, incredible appreciation during this short time has created equity to invest in one’s own property. Almost anywhere you travel in San Francisco you’re bound to see at least one home shrouded in scaffolding. So, whether considering a major renovation or a remodel of a smaller scale, which home improvements have the best pay-off?

 

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Click here to view the full 2015 Cost vs. Value Report

 

TIP: If you’re thinking about doing some work on your home, spend a weekend attending open houses in your neighborhood doing market research– note which design features inspire you, and compare¬†good remodels to bad ones.

 

See also: An Entire Year of SF’s Most Heart-Stopping Flips¬†from CurbedSF

 

Meredith Martin is a Broker Associate at Paragon Real Estate Group and can be reached at Meredith@OpeningDoors.me

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