Remodeling.com’s Cost vs Value Report
Are you thinking about doing a substantial remodeling project, but you are skeptical on whether or not the project will pay off in the long run? Well, you’re not alone and there is good news because the math wizards over at Remodeling magazine just released their Cost vs Value Report.
Basically, the report compares the costs of various remodeling projects to how those finished projects affect the overall value of the home. The findings may be a little surprising.
The Cost vs Value report found that geography really matters, and the West Coast has seen the highest return on their remodeling investments with an average payback of about 64 cents on the dollar.
Also, the report shows that with regards to kitchens and bathrooms, you will get more of a return on your investment if you renovate an existing space rather than add on to it.
And I know what all of you are wondering and that is, which remodeling project is most likely going to increase the value of your home? According to the Cost vs Value Report, curb appeal projects, such as a garage door replacement or a porch makeover, continue to have the highest return on investment.
For more on this, visit the show notes section at onthehouse.com