Home Improvement Center
Online Tips
- Enhancing Your Home’s Value – preparing your home for sale
- Hometime.com – the TV program site, with home improvement, remodeling, and repair information.
- HGTV.com – the network site, with remodeling, decorating, gardening, and other home care information.
- Lowes.com – this portion of the site has information for those who have or will be moving. Includes opportunity to sign up for a 10% off coupon!
Remodeling: Return on Investment
Besides wanting to know how much a remodeling project will cost, buyers and sellers have one core concern: how much the investment will add to the home’s value.
The numbers presented here can serve as a guideline for those contemplating the potential return on investment for particular remodeling projects. However, it’s important to acknowledge a variety of factors that can affect both the cost of remodeling and the resale value of the home.
Costs for materials, subcontractors, and labor vary considerably not only in different parts of the country, but also among remodeling compaies operating in the same market.
There more variation on the value side. Return on investment depends on the value of the house itself, the value of similar homes in the area, and the rate at which property values are changing in the surrounding neighborhoods. And of course, similar houses in different neighborhoods within the same city will vary in value. And a house in a suburban location will vary from its rural or urban counterpart.
Percent of Cost Recouped Per Project:
- Deck Addition – 104.2%
- Siding Replacement – 98.1%
- Bathroom Addition – 95.0%
- Attic Bedroom – 92.8%
- Bathroom Remodel – 89.3%
- Window Replacement – 84.8%
- Family Room Addition – 80.6%
- Master Suite Addition – 76.4%
- Kitchen Remodel – 74.9%
(Source: Remodeling Magazine, Published by Hanley-Wood, LLC and REALTOR® Magazine)
