Making Money on Your Remodel

As the housing market has continued to improve we can now begin to see how much the typical homeowner will recoup from a remodel or room addition.

The new annual report of Cost vs. Value just came out and gives the homeowner a good idea of what improvements payback and by how much.

To calculate the typical project costs the report pulls information from various sources. For example, project costs come from a construction estimating software. The resale values come from the National Association of Realtors survey.

So What Does the Report Say?

Basically, minor remodel projects have the highest pay back.  Making updates such as changing out the garage door, front door, and working on other items that have a visual impact. However, the report clearly showed that major renovations, like kitchen, bathroom, and room additions did allow their owner to recoup their costs, although at a lower rate.

Let’s Look at the Actual Numbers (Recoup)

  • Garage door replacement  – 79%
  • Window replacement -75.2%
  • Kitchen remodel- 54%
  • Bathroom remodel- 58%
  • Room addition- 52%

As you can see, these are still excellent rates of payback, especially in a market that is still developing.

The bottom line is here is that you are making an excellent investment by remodeling and building up the value of your home.  Most importantly, you deserve to live in a home that meets your lifestyle and needs.

Why not explore the possibilities and call R & R Development today?   Let us show you what is possible and how you can create the home of your dreams quickly and efficiently.

 

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