Most of us spend more time inside during the winter months. If you’ve been looking around your house thinking you might like to do some remodeling, we’ve got an excellent resource for you. Each year at this time, the National Association of Realtors and Remodeling Magazine produces a detailed report that outlines the cost and resulting payback for 35 popular remodeling projects.
The Cost vs. Value report breaks the country into nine regions to give the data greater relevance. This year, they include a scale drawing of the project along with details on the finishes.
According to the report, most projects do not have a return equal to the investment. The report lets you see how the returns for various remodels have changed over time. While this may not be the news you were looking for, return on investment is one of many reasons to move forward with a remodel. Remember that, when done well, remodeling can help you stay in a home that may feel too small or not well suited to your current lifestyle.
As always, feel free to call me and pick my brain on your exact project and goals. Note that the neighborhood, vintage of a house, and expectations of the market can all affect the value of a remodeling investment.