Remodeling Cost Vs Value tends to be a common topic.
If you are considering remodeling your home you may be wondering about remodeling cost vs value.
If you have asked “Is it worth the money?” Overall the answer is “Probably.”
However, do not expect to fully recuperate the amount of the remodeling investment right away. Usually, you can expect between 80% and 90% back on your home improvement investment dollar, within the first year or two. With a well done remodel, you can increase and even make money the longer you stay in the home. As with many investments, it’s the power of compounding that creates good returns. By being in the home a longer period of time, you give the real estate market time to increase and you leverage the remodeling investment as property values grow.
You may want to consider these things when deciding if a home improvement project is a good investment or not:
- How long you plan to be in the home
- How strong the resale market is in your area
- How your project impacts your homes appraised value
“Remodeling Cost vs Value” 2016 report shows that the overall ROI costs (return on investment value ratio) for projects has improved – reaching 60.6% nation ride.
Here are a few examples of ROI for remodeling projects in Colorado
Major Kitchen Remodel – 74.3%
Minor Kitchen Remodel – 83.5%
Two-Story Addition – 89.3%
Attic Bedroom – 95%
Want to learn more? Here are a few great sites we recommend:2016 Cost vs Value Remodeling Report
This site compares average cost for 35 popular remodeling projects with the value those projects retain at resale in 101 U.S. cities. Check out this year’s trends and how they compare to prior years.
This site presents data collected by Edge Research from the Houzz community, surfacing actual project costs from more than 100,000 homeowners.
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